Do Census Data Understate Retirement Income?

Alicia Munnell and Anqi Chen

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are: *Some claim that retirees are better off than many think, because Census’s Current Population Survey (CPS) does not capture most 401(k)/IRA income.*Indeed, the CPS dramatically under-reports 401(k)/IRA income, a serious problem given the shift from defined benefit to defined contribution plans. *Interestingly, though, the problem is largely concentrated among upper-income households, which hold most of the 401(k)/IRA wealth. *As a result, the CPS currently provides a reasonably good measure of retirement income for the typical middle-income household. *Moreover, Census is currently testing ways to improve the CPS survey design to better incorporate all sources of retirement income.

Pages: 8 pages
Date: 2014-12
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Citations: View citations in EconPapers (2)

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