Social Security Expectations and Retirement Savings Decisions

TitleSocial Security Expectations and Retirement Savings Decisions
Publication TypeReport
Year of Publication2001
AuthorsDominitz, J, Manski, CF, Heinz, J
InstitutionCarnegie Mellon University, H. John Heinz III School of Public Poligy and Management
KeywordsConsumption and Savings, Social Security
Abstract

Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be uncertain of their future Social Security benefits for several reasons, including uncertainty about their future labor earnings, the formula now determining social security benefits, and the future structure of the Social Security system. To learn how Americans perceive their benefits, we have elicited Social Security expectations from respondents to the Survey of Economic Expectations. We have also performed a more intensive face-to-face survey on a small sample of respondents. This paper presents the empirical findings. It also illustrates how data on expectations may help predict how Social Security policy affects retirement savings.

Notes

National Institute on Aging Grant 2 P01 AG10179-04A1 and National Science Foundation grant SES-0001436.

URLhttp://www.faculty.econ.northwestern.edu/faculty/manski/retirement_savings.pdf
Endnote Keywords

Social Security expectations/Retirement Saving

Endnote ID

10862

Citation Key5474