The impact of late-career health and employment shocks on Social Security and other wealth

The impact of late-career health and employment shocks on Social Security and other wealth

The

impact of late-career health and employment shocks on Social Security and other wealth

Johnson

Richard W.

Johnson, Richard W.

Author

Author

Mermin

Gordon B.T.

Mermin, Gordon B.T.

Author

Author

Murphy

Dan

Murphy, Dan

Author

Author

text

working paper

Chestnut Hill, Mass. Center for Retirement Research at Boston College20072007monographic

Chestnut Hill, Mass.

Chestnut Hill, Mass.

Center for Retirement Research at Boston College

2007

2007

monographic

Englisheng

English

eng

electronicapplication/pdfborn digital

electronic

application/pdf

born digital

Although health and employment shocks are fairly common at older ages and often derail retirement savings plans, Social Securitys disability insurance, spouse and survivor benefits, and progressive benefit formula may provide important protections. By contrast, traditional employer-sponsored pension benefits may be especially vulnerable to health and employment shocks immediately before benefit take-up, because pension wealth generally grows rapidly near the end of the career and workers forfeit these increases if they separate early. This study examines the impact of disability onset and job layoffs on Social Security wealth, traditional employer-sponsored pension wealth, and other household wealth for a nationally representative sample of workers age 51 to 55 in 1992...

Richard W. Johnson, Gordon B.T. Mermin, and Dan Murphy.

CRR WP2007-26

CRR WP2007-26

CRR WP

2007-26

http://crr.bc.edu/images/stories/Working_Papers/wp_2007-26.pdf

MChBEnglisheng

MChB

Englisheng

English

eng