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Racially Disparate Effects of Raising the Retirement Age

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Abstract

Advocates for raising the retirement age to 70 and beyond argue that since the "average" American is living longer, lifetime benefits are actually increasing. However, black seniors die sooner and are sick for a longer period of time than white seniors. This means that any policy to cut Social Security benefits by raising the normal retirement age will have a disparate and negative impact on Blacks. This study examines the size and growth of racial gaps in mortality and morbidity, and shows that while some groups have experienced lifetime benefit increases, others have not.

Suggested Citation

  • Teresa Ghilarducci & Kyle Moore, 2015. "Racially Disparate Effects of Raising the Retirement Age," SCEPA working paper series. 2015-03, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepawp:2015-03
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    Cited by:

    1. Teresa Ghilarducci & Kyle Moore & Bridget Fisher & Anthony Webb, 2016. "Gender and Racial Disparities in Physical Job Demands of Older Workers," SCEPA policy note series. 2016-04, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

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    More about this item

    Keywords

    Retirement; Social Security; Race; Inequality;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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