Monthly Seminar
May 30, 2014
Project Director: Dr. A. Hervani
Faculty Mentors: Dr. P. Aka; Dr. E. Arnott-Hill
Fellow: R. Spaulding
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Baby Boomers
Elderly
Early retirees
Singles/Head of households
Gender - Female
Mid-50s
Ethnic groups – African-Americans, Hispanics
Entrepreneurs
Socio-economic changes:
 Availability of employer retirement benefits
(changes from defined-benefit plans to
defined-contribution plans to individual
plans)
 Forced early retirement
 Poverty
 Health
 Social Security
 Savings
 Investments
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Financial knowledge (pension incentives,
income tax credits)
Financial practices (saving, budgeting,
personal decision-making)
Wealth vs Income
Wealth gap
Gender gap
Elder care; long-term care
Health; disabilities, chronic illness
U.S. Social Security Administration/Modeling
Income in the Near Term (MINT)/
Micro-simulation
 Eurostat & U.S. Census Bureau/European
Union Statistics on Income and Living
Conditions (EU-SILC), U.S. Panel Study of
Income Dynamics (US-PSID)/Comparative
analysis
 U.S. Census of Population and Housing/
5% Public Use Microdata Sample (PUMS)/
Multivariate Models
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National Institute on Aging & Social Security
Administration/University of Michigan Health and
Retirement Study (HRS), Waves 1-4/multivariate
models; simulations, structural retirement model,
descriptive statistics, comparatives
Survey of Consumer Finances (SCF)/Urban
Institute’s DYNASIM3/micro-simulation model
Statistics Canada’s Research Data Centre/2009
Canadian Financial Capability Survey
(CFCS)/Multivariate, regression analyses
Bureau of Labor Statistics/National Longitudinal
Survey of Mature Women (NLSMW)/Hierarchical
linear model
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Government benefits (support, subsidies)
Fringe benefits (other compensation, i.e.
education reimbursement)
Data collection (disaggregation by race,
gender, ethnicity)
Opportunities (job training)
Incentives to save
Health insurance (adequate protection)
Financial education (schools, employers)
Bayer, P. J., Bernheim, B. D., & Scholz, J. K. (2009). The effects of
financial education in the Workplace: Evidence from a survey of
employers. Economic Inquiry, Western Economic Association
International, 47(4), 605-624.
Berry, B. (2006). What accounts for race and ethnic differences in
parental financial transfers to adult children in the United
States? Journal of Family Issues, 27(11), 1583-1604.
Brimmer, A. F. (1988). Income, wealth, and investment behavior in the
black community. The American Economic Review, 1988, 78(2),
151-155.
Butrica, B. A., Murphy, D. P., & Zedlewski, S. R. (2009). How many
struggle to get by in retirement? The Gerontologist, 50(4),
482-494.
Chan, S. & Stevens, A. H. (2008). What you don’t know can’t help you:
Pension knowledge and retirement decision-making. The
Review of Economics and Statistics, 90(2), 253-266.
Finkelstein, E. S. Reid, M. C., Kleppinger, A., Pillemer, K. & Robison, J.
(2012). Are baby boomers who care for their older parents
planning for their own future long-term care needs? Journal of
Aging & Social Policy, 24(1), 29-45.
Haas III, W. H., Bradley, D. E., Longino Jr., C. F., Stoller, E. P., & Serow, W.
J. (2006). In retirement migration, who counts? A methodological
question with economic policy implications. The Gerontologist,
46(6), 815-820.
Holtz-Eakin, D., Joulfaian, D., & Rosen, H. S. (1994). Entrepreneurial
decisions and liquidity constraints. Rand Journal of Economics,
25, 334-347.
Hui, T. S., Vincent, C. & Woolley, F. (2011). Understanding gender
differences in retirement saving decisions. Social Research and
Demonstration Corporation. Ottawa, Ontario
Iams, H. M., Reznik, G. L., & Tamborini, C. R. (2010). Earnings sharing in
the U.S. Security system: A microsimulation analysis of future
female retirees. The Gerontologist, 50(4), 495-508.
Mermin, G. B. T., Zedlewski, S. R. & Toohey, D. J. (2008). Diversity in
retirement wealth accumulation. Urban Institute. The Retirement
Policy Program, Brief Series 24, 1-12.
Peeters, H., Debels, A., & Verpoorten, R. (2013). Excluding
institutionalized elderly from surveys: Consequences for income
and poverty statistics. Social Indicators Research, 110, 751-769.
Smith, J. P. (1995). Racial and ethnic differences in wealth in the health
and retirement study. The Journal of Human Resources, 30,
158-183.
Snyder, A. R., McLaughlin, D. K., & Findeis, J. (2006). Household
composition and poverty among female-headed households
with children: Differences by race and residence. Rural
Sociology, 71(4), 597-624.
Wakabayashi, C. and Donato, K. M. (2006). Does caregiving increase
poverty among women in later life? Evidence from the Health
and Retirement Survey. Journal of Health and Social Behavior,
47(3), 258-274.
Whitaker, E. A., Bokemeier, J. L., & Loveridge, S. (2011). Retirement
plan participation in an era of change: The case of a rural
region. Rural Sociology, 76(3), 319-346.
Willson, A. E. (2003). Race and women’s income trajectories:
Employment, marriage, and income security over the life
course. Social Problems, 50(1), 87-110.
Wright, R. (2011). Paying for retirement: Sex differences in inclusion in
employer-provided retirement plans. The Gerontologist, 52(2),
231-244.