How Can Changes to Social Security Improve Benefits for Black and Hispanic Beneficiaries?

Richard W. Johnson and Karen E. Smith

Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research

Abstract: This paper compares Social Security outcomes for non-Hispanic Black, Hispanic, and non-Hispanic white beneficiaries and assesses the capacity of various benefit enhancements to narrow racial and ethnic disparities in Social Security benefits. Using the Dynamic Simulation of Income Model 4 (DYNASIM4), we project, under current law and each benefit enhancement, lifetime Social Security benefits, the share of beneficiaries receiving limited annual benefits, and the share with limited annual income. To capture the fully phased-in impact of each option, we project annual outcomes in 2080 and lifetime outcomes for adults born between 2001 and 2010.

Pages: 42 pages
Date: 2023-12
New Economics Papers: this item is included in nep-age, nep-mac and nep-ppm
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