The Impact of Late-Career Health and Employment Shocks on Social Security and Other Wealth
Contributing Organization(s): Urban Institute
Author(s)/Creator(s): Richard W. Johnson; Gordon B.T. Mermin; Dan Murphy
Publishing Date: 2007-12-20
Issue Areas: Employment and Labor; Health and Medicine; Disability Issues
Ownership/Rights Info: Copyright (c) 2007. Permission is granted for reproduction of this document, with attribution to the Urban Institute.
File info: 47 pages; 220.77 KB file size
About one-quarter of workers age 51 to 55 in 1992 developed health-related work limitations and about one-fifth were laid off from their jobs before age 62. Although late-career health and employment shocks often derail retirement savings plans, Social Security's disability insurance, spouse and survivor benefits, and progressive benefit formula provide important protections. In fact, health shocks increase Social Security's lifetime value, primarily because the system's disability insurance allows some disabled workers to collect benefits before age 62. However, if the system's disability insurance program did not exist, the onset of health-related work limitations would substantially reduce Social Security wealth.
Access this research:
Intended Audience: Advocates; Legislators/Legislative Aids; Policy Professionals; Researchers
Type/Format: Whitepaper
Language code: English
Type/Format: Whitepaper
Language code: English
Votes: 1 | Average Rating: 2
Click to add your rating!
Click to add your rating!
Related Research
Explore related research listed in the same issue areas.
Related research:
Share and Share Alike
The golden rule at IssueLab ... share the knowledge, share the love!
