CHICAGO STATE UNIVERSITY
Department of Mathematics, Computer Science, Economics
MRS Monthly Standing Seminars, FY 2014
May 30, 2014
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Identify the variables of interest that were
described in our report: the variables that
could have impact on the retirement security
of low-income minorities.
Collect data for these variables in the
national, state-wide or city-wide levels.
Construct tables showing the collected data
on each variable.
Income Levels
Social Security Withdrawals and Payouts
Marital Status
Social Security Income
Asset Allocation
Employment-Based Retirement
Plans/Participation
 Education
 Spending and Saving habits
 Occupation
 Planning
 Psychology and background
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Doctors, lawyers and other high-income professionals
may be able to put away (save or invest) a substantial
amount of money a year because they have “extra
income.”
For most low-income workers that options simply does
not exist! Most low-income workers live paycheck to
paycheck and these individuals do not have “extra
income” to save.
Responsibilities include
Children
Household needs i.e. rent, bills, maintenance etc
Relatives (mother, father, etc
Medical expenses (no medical insurance-out of pocket
expense)
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According to Pareto (2012), two generations
ago, corporate pensions and social
security ensured a secure retirement for our
grandparents. Today, however, pension plans
have become virtually extinct, shifting the
burden of retirement savings away from
corporations and onto the employees. Our
retirement depends largely not only on our
own ability to save and invest wisely, but also
on our ability to plan.
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Haves versus the Have nots
-Those individuals who have access to
financial seminars, financial literacy classes,
financial managers, etc or those individuals
who work at companies that encourage their
employees to save for their retirements and
provide substantial educational materials to
this end are statistically much more likely to
save for their retirements than those who do
not.
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Those individuals who understand the value
of saving are much more likely to put away
money in an investment account or some sort
of savings account than those who grew up
in poverty and have no concept of savings
or money management.
www.ssa.gov (contact: (410) 965-0090)
www.epi.org
www.pewsocialtrends.org
www.census.illinois.gov/
www.illinois-demographics.com
www.census.gov/
www.census.gov/history/
www.census.gov/regions/ (Albert E. Fontenot Jr.,
Regional Director)
 Local Library
 Chicago State University Archives Dept.
 Author(s)
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www.ssa.gov
www.epi.org
www.pewsocialtrends.org
www.socialsecurity.gov/policy/docs/statcomp
s/ssi_sc/2012
CONTACT: (410) 965-0090 or
statistics@ssa.gov.
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www.ssa.gov
www.epi.org
www.pewsocialtrends.org
www.census.illinois.gov/
www.illinois-demographics.com
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www.socialsecurity.gov/policy/docs/statcomp
s/ssi_sc/2012
Contact: (410) 965-0090 or
statistics@ssa.gov.
Large Data Sets
 Variables
-Right versus Wrong data
-State versus National data
-Specific gender data versus grouped data
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Internet Limitations
-Library visits
-Phone calls
-Contacting authors
-Emails
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The tables I am constructing should be
simple and attractive.
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There should be no need of further
explanations (details). The following are
examples of tables I had to construct.
The spreadsheet will be utilized to:
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Summarize the data or information from the
many sources we have reviewed in one place
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Present the information in a format to help a
decision maker or reader see the "big
picture.”
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Assignment(s) for the month of May
-difficult journey
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Persistence and Encouragement from Faculty
Mentors
-rewarding
-new skill set(s)
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www.ssa.gov
www.epi.org
www.pewsocialtrends.org
www.census.illinois.gov/
www.illinois-demographics.com
www.census.gov/
www.census.gov/history/
www.census.gov/regions/