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40% of Older Workers and Their Spouses Will Experience Downward Mobility in Retirement

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Abstract

Inadequate retirement accounts will cause 8.5 million middle-class older workers and their spouses – people who earn over twice the official poverty line of $23,340 (if single) or $31,260 (if coupled) – to be downwardly mobile, falling into poverty or near poverty in their old age.

Suggested Citation

  • Teresa Ghilarducci & Michael Papadopoulos & Anthony Webb, 2018. "40% of Older Workers and Their Spouses Will Experience Downward Mobility in Retirement," SCEPA policy note series. 2018-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapn:2018-01
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    Citations

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    Cited by:

    1. Ghilarducci, Teresa & Radpour, Siavash & Webb, Anthony, 2022. "Retirement plan wealth inequality: measurement and trends," Journal of Pension Economics and Finance, Cambridge University Press, vol. 21(1), pages 119-139, January.
    2. Wei Sun & Teresa Ghilarducci & Michael Papadopoulos & Anthony Webb, 2019. "The Impact of a Social Security Proposal for "Catch-Up" Contributions," SCEPA working paper series. 2019-03, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

    More about this item

    Keywords

    Retirement; Old age poverty; Older workers; Poverty;
    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
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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