Monday, July 8, 2019

Upcoming event: “African American Economic Security and the Role of Social Security”

Elevate The Debate

Urban Institute Events

African American Economic Security
and the Role of Social Security

Wednesday, July 24, 2019, 9:00 a.m. to 11:00 a.m.
Registration and breakfast available at 8:30 a.m.

Urban Institute
500 L'Enfant Plaza SW
Washington, DC 20024


Social Security has evolved to become an integral part of the economic security of African American families, but this was not always the case. At its inception, Social Security did not cover domestic or agricultural work, in addition to other occupations, in which two-thirds of African Americans were employed. Changes to the program over subsequent decades have made it nearly universal. But racial and gender discrimination persists in the labor market and results in higher levels of unemployment, occupational segregation, and lower wages for African Americans, especially African American women. These structural barriers preclude many African American workers from jobs with pension coverage and sufficient income to save for retirement. And these labor market disparities result in Social Security benefit levels that leave a disproportionate share of African Americans in poverty.
The Urban Institute and the Center on Budget and Public Policy Priorities will release a brief that addresses these issues, and invite you to an event where participants will discuss the following:

  • Social Security’s history and the reasons domestic and farm workers initially were not covered
  • structural barriers that affect the employment and health outcomes of African American workers and result in greater use of disability and survivors insurance and lower Social Security benefits, despite the program’s progressive benefit formula
  • proposals to reform Social Security and their projected effects on African American families’ economic well-being

REGISTER HERE

Registration is required to attend the event.

Speakers:

  • Nancy Altman, President, Social Security Works
  • Kilolo Kijakazi, Institute Fellow, Urban Institute
  • Maya Rockeymore Cummings, President, Global Policy Solutions
  • Margery Turner, Senior Vice President for Program Planning and Management, Urban Institute
  • Sarah Rosen Wartell, President, Urban Institute
  • Kathleen Romig, Senior Policy Analyst, Center on Budget and Policy Priorities (moderator)
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Wednesday, July 3, 2019

Upcoming webinar: “Spending Patterns of Older Households and Their Financial Planning Implications”

Please join EBRI for a webinar reviewing findings from its latest research on spending behavior of older Americans. EBRI researcher Zahra Ebrahimi will examine how spending varies by retirement status, wealth, and demographic characteristics. We will then hear from Sharon Carson, Retirement Strategist, Executive Director at J.P. Morgan Asset Management, to understand the implications of these findings in assessing retirement income adequacy for financial planning purposes.

Details

  • Date: July 24, 2019
  • Time: 2:00 p.m. – 3:00 p.m. Eastern Time

If you are interested in sponsoring this webinar or a series of webinars, please contact Betsy Jaffe.

Register Today!

Mark Your Calendar

Zahra Ebrahimi, Research Associate, EBRI

Sharon Carson, Executive Director, J.P. Morgan Asset Management, Retirement Team

Moderated by: Lori Lucas, CFA, President and CEO, EBRI

Register Today!

Only EBRI brings together unique and unbiased research, industry thought leaders and all segments of the employee benefits industry to provide unparalleled programming.

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Wednesday, June 26, 2019

New paper: “Disability Benefits, Consumption Insurance, and Household Labor Supply”

From the American Economic Review.

Disability Benefits, Consumption Insurance, and Household Labor Supply

David Autor, Andreas Kostøl, Magne Mogstad and Bradley Setzler

There is no evaluation of the consequences of Disability Insurance (DI) receipt that captures the effects on households' net income and consumption expenditure, family labor supply, or benefits from other programs. Combining detailed register data from Norway with an instrumental variables approach based on random assignment to appellant judges, we comprehensively assess how DI receipt affects these understudied outcomes. To consider the welfare implications of the findings from this instrumental variables approach, we estimate a dynamic model of household behavior that translates employment, reapplication, and savings decisions into revealed preferences for leisure and consumption. The model-based results suggest that on average, the willingness to pay for DI receipt is positive and sizable. Because spousal labor supply strongly buffers the household income and consumption effects of DI allowances, the estimated willingness to pay for DI receipt is smaller for married than single applicants.

Full-Text Access | Supplementary Materials

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Wednesday, June 12, 2019

2019 Retirement and Disability Research Consortium Meeting Agenda

2019 Retirement and Disability Research Consortium Meeting

The 2019 Retirement and Disability Research Consortium Meeting will be held on August 1-2, 2019 at the National Press Club in Washington, DC.

View the agenda and register.

Learn more about the Consortium.

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New working papers from the Center for Retirement Research at Boston College

The Center for Retirement Research at Boston College has recently released four working papers:

Is the Drop in Fertility Due to the Great Recession or a Permanent Change?
Alicia H. Munnell, Anqi Chen, and Geoffrey T. Sanzenbacher
Will Fewer Children Boost Demand for Formal Caregiving?
Gal Wettstein and Alice Zulkarnain
The Relationship between Occupational Requirements and SSDI Activity
Matthew S. Rutledge, Alice Zulkarnain, and Sara Ellen King

How Does Contingent Work Affect SSDI Benefits?
Matthew S. Rutledge, Alice Zulkarnain, and Sara Ellen King

Read more!

New paper: “Do People Save More After They Marry?”

The Center for Retirement Research at Boston College has released a new Issue in Brief:

“Do People Save More After They Marry?”

by Geoffrey T. Sanzenbacher and Wenliang Hou

The brief’s key findings are:

  • The question is whether people getting married later has any effect on retirement saving.
  • The analysis focuses on individuals' contributions to a 401(k) plan before and after marriage.
  • The results show that marriage is associated with higher participation and contribution rates for both men and women.
  • These effects are relatively modest, however, so the impact on retirement wealth from delaying marriage is likely to be small.

This brief is available here.

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New paper: “Social Security’s Financial Outlook: The 2019 Update in Perspective”

The Center for Retirement Research at Boston College has released a new Issue in Brief:

“Social Security’s Financial Outlook: The 2019 Update in Perspective”

by Alicia H. Munnell

The brief's key findings are:

  • Contrary to media reports, the 2019 Trustees Report shows little change overall:
    • Social Security’s 75-year deficit ticked down from 2.84 percent to 2.78 percent of payroll.
    • Trust fund exhaustion moved out by one year, to 2035, after which payroll taxes still cover about three quarters of promised benefits.
  • This shortfall is manageable, but action should be taken soon to equitably share the burden among cohorts, restore public confidence, and give people time to adjust.
  • The Report did include one noteworthy change: a big improvement in the financial outlook for the Disability Insurance program.

This brief is available here.

Read more!