|What Benefits Do Young Retirees and Older Workers Receive?
|Year of Publication
|Summer, L, Shirey, L
|Washington, DC, National Academy on an Aging Society
|Employment and Labor Force, Income, Pensions
Examined the receipt of public and private benefits by young retirees and older workers. Data were obtained from the 1993 panel of the Survey of Income and Program Participation (that surveyed adults aged 18-84), 1992 wave of the Health and Retirement Study (that surveyed adults aged 51-61), and 1993-1994 wave of the study of Assets and Health Dynamics Among the Older Old (that surveyed adults aged 70 and older). It was found that workers of all ages were less likely to participate in means-tested public benefit programs compared with people who were not working. About one-tenth of young retires aged 51-59 received Supplemental Security Income benefits, compared with just 1 of workers in the same age group. The value of pensions was higher for workers, especially men, and those who wanted to retire early were more likely to have retirement plans than those forced to retire early. Participation in the Medicaid and Food Stamp programs was also higher for young retirees compared with workers the same age. Only half of those forced to retire at an early age had private health insurance, compared with 84 who wanted to retire at an early age. Older workers were more likely than nonworkers to receive and give financial support.
food stamps/Older Workers/Benefits