The National Retirement Risk Index with Varying Claiming Ages

Yimeng Yin, Anqi Chen and Alicia H. Munnell

Issues in Brief from Center for Retirement Research

Abstract: Households ages 62-75 have substantial earnings. The National Retirement Risk Index, which assumes all households claim Social Security – and retire – at 65, does not count earnings after 65. So, about half of all earnings for those 62-75 are excluded from the Index and could distort the results. Introducing more realistic claiming ages for low-, middle-, and high-income households solves two problems:Increases the earnings in the Index to two-thirds, with the rest going mainly to high earners where it has little impact. Produces a more sensible pattern of percentage “at risk†by income group. One thing that doesn’t change is the overall percentage of today’s working households at risk: that’s still about 50 percent.

Pages: 6 pages
Date: 2023-11
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