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Publications by Richard W. Johnson for Retirement Policy


Viewing 1-10 of 124. Most recent listed first.Next Page >>

Retirement Income Challenges in the Twenty-First Century (Testimony)
Richard W. Johnson

Richard Johnson describes the key challenges to retirement security in this testimony to the U.S. Senate's Special Committee on Aging. Although median retirement incomes will continue to rise in inflation-adjusted terms for generations retiring through the 2030s, increasing shares of Americans will see their living standards fall as they enter retirement because retirement incomes are not keeping pace with earnings. High out-of-pocket medical and especially long-term care costs pose the greatest threat to older Americans’ economic security. Income inequality is also growing at older ages and many seniors have difficulty turning retirement account balances into lifelong income.

Posted: September 25, 2013Availability: HTML | PDF

Income and Wealth of Older Adults Needing Long-Term Services and Supports (Testimony)
Richard W. Johnson

In his testimony before the federal Commission on Long-Term Care, Richard Johnson reports that most older adults who receive Medicaid-financed nursing home care have low incomes and very little wealth, both while on the program and for at least a decade before entering a nursing home. These results suggest that efforts to promote individual saving for long-term care may not move many people off Medicaid or reduce program costs because most Medicaid nursing home residents haven’t had the means to save much.

Posted: August 21, 2013Availability: HTML | PDF

Labor Force Statistics on Older Americans, Second Quarter 2013 (Policy Briefs/Retirement Project Brief Series)
Richard W. Johnson, Benjamin G. Southgate

This data brief reports quarterly labor force statistics for older Americans, a growing segment of the workforce. It reports labor force participation rates, unemployment rates, employment-to-population ratios, and the share of unemployed workers who have been out of work for more than six months, and compares outcomes to earlier years. Labor market outcomes did not improve much for older or younger workers in the second quarter of 2013. Older workers continue to fare better than their younger counterparts, although older unemployed adults take longer to find work.

Posted: July 30, 2013Availability: HTML | PDF

How Did the Great Recession Affect Social Security Claiming? (Policy Briefs/Retirement Project Brief Series)
Richard W. Johnson, Karen E. Smith, Owen Haaga

Social Security retirement claiming grew in 2009 as unemployment soared. The increase was modest, however, because unemployment growth at older ages was largely offset by growth in the number of older adults choosing to work longer. Half of women and more than half of men now wait until after age 62 to claim their retirement benefits, the largest proportions in decades. The recent increase in Social Security's full retirement age has prompted many retirees to wait at least until they turn 66 years old to begin collecting benefits, as a quarter of men now claim at that age or later.

Posted: July 29, 2013Availability: HTML | PDF

How Important is Social Security Disability Insurance to U.S. Workers? (Policy Briefs/Retirement Project Brief Series)
Melissa M. Favreault, Richard W. Johnson, Karen E. Smith

Social Security Disability Insurance (DI) is a vital part of the nation's social safety net, providing essential financial support to millions of disabled workers and their families. Nearly half of beneficiaries rely on the program for the majority of their family income. A fifth receive nearly all of their income from DI. The program is not particularly generous, however, and many beneficiaries face financial hardship. Average family incomes are only about half as large for DI beneficiaries as nonbeneficiaries. Efforts to address Social Security's financing problems should recognize the crucial support that Social Security provides to Americans with disabilities.

Posted: June 21, 2013Availability: HTML | PDF

Financial Consequences of Long-Term Unemployment during the Great Recession and Recovery (Policy Briefs/Unemployment and Recovery)
Richard W. Johnson, Alice Feng

Extended job loss dealt a serious financial blow to many workers during the Great Recession and recovery. Despite the protection provided by unemployment insurance benefits, family incomes fell 40 percent or more for half of workers unemployed for at least six consecutive months between August 2008 and December 2011. About a quarter began experiencing economic hardship, including more than a third of African Americans, Hispanics, and unmarried adults. Social Security shielded most workers ages 62 and older from the worst outcomes, although early retirees receive lower monthly retirement checks for the rest of their lives, possibly causing financial hardship later.

Posted: April 05, 2013Availability: HTML | PDF

Labor Force Statistics on Older Americans, 2012 (Data)
Richard W. Johnson

This data brief reports 2012 labor force statistics for older Americans, a growing segment of the workforce. It reports labor force participation rates, unemployment rates, employment-to-population ratios, and the share of unemployed workers who have been out of work for more than six months, and compares outcomes to earlier years. Labor market outcomes improved for both younger and older workers in 2012. Older workers continue to fare better than their younger counterparts, although older unemployed adults take longer to find work.

Posted: January 23, 2013Availability: HTML | PDF

Labor Force Statistics on Older Americans (Fact Sheet / Data at a Glance)
Richard W. Johnson

This data brief reports monthly labor force statistics for older Americans, a growing segment of the workforce. It reports labor force participation rates, unemployment rates, employment-to-population ratios, and the share of unemployed workers who have been out of work for more than six months. Employment outcomes did not change much in November 2012 for Americans ages 55 and older. Older workers continue to fare better than their younger counterparts, although older unemployed adults take longer to find work.

Posted: December 19, 2012Availability: HTML | PDF

Unemployment Statistics on Older Americans (Fact Sheet / Data at a Glance)
Richard W. Johnson

The recession has increased joblessness among older Americans. These graphs and tables report unemployment rates and how they have varied by age, sex, race, and education since 2007.

Posted: September 07, 2012Availability: HTML | PDF

Are Pension Reforms Helping States Attract and Retain the Best Workers? (Occasional Paper)
Richard W. Johnson, C. Eugene Steuerle, Caleb Quakenbush

Recent budget pressures have led many states to cut future pension benefits for state workers. Using New Jersey as a case study, this report describes how these reforms ignore larger employee recruitment and retention issues for today's more mobile workforce. State retirement plans generally do not attract younger workers, lock in middle-aged workers even if a job is not a good fit, and push older workers into retirement. Recent reforms also shift pension financing burdens to the young, largely sparing taxpayers and current older workers and retirees.

Posted: July 16, 2012Availability: HTML | PDF

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