%0 Report %D 2020 %T Income Security and Financial Wellbeing of Older Workers Transitioning into Retirement %A Robert Clark %A Liu, Siyan %K income changes %K pension benefits %K Retirement %X This report begins with a discussion of the literature on income replacement and income security as older workers transition into retirement. In addition, literature on the financial distress and financial literacy of elderly households is reviewed. Section III describes our data sources and dataset construction. Section IV presents descriptive statistics on income replacement of recent retirees while Section V examines the characteristics of subgroups experiencing large income changes. Finally, Section VI shows regression analysis of the factors associated with income changes and studies the link between income changes and financial distress. Appendix A and Appendix B offers description of our samples of North Carolina public workers and HRS respondents in greater detail. Appendix C includes tables on sample characteristics and regression analysis of additional outcomes. Appendix D records the survey questions we use to create key variables for our North Carolina dataset. %I North Carolina State University %C Raleigh, NC %G eng %U https://siyanliu.wordpress.ncsu.edu/files/2020/11/Liu_Siyan_ICMM_Report.pdf