2020

UM20-11: Cognitive Ability, Cognitive Aging, and Debt Accumulation

Financial product complexity has increased substantially in the past few decades and recent evidence suggests that older adults are entering retirement with more debt than previous generations. This project will examine how cognitive ability and cognitive aging are related to…

UM20-12: Financial Consequences of Health and Healthcare Spending Among Older Couples

Dementia, a chronic, degenerative disease characterized by deteriorating cognition, represents a particularly aggressive threat to older adults’ financial well-being.  Dementia-linked adverse financial events have the potential to deteriorate retirement savings, increasing financial strain and potentially demand for Medicaid and Supplemental…

UM20-13: Nursing Homes in Equilibrium: Implications for Long-term Care Policies

Long-term care is one of the most significant risks Americans face in late life. About a third of Americans older than age 70 need help with Activities of Daily Living, requiring either a nursing home or community- and home-based care.…

UM20-14: The Causes and Consequences of Opioid and Benzodiazepine Use Among Older Americans: A Panel Survey Approach

The proposed research will identify the causes and disability consequences of prescription opioid and benzodiazepine use among Americans older than 50, including the role of state prescription drug policies in the use and effects of these drugs. These drug classes…

UM20-15: Firm Willingness to Offer Bridge Employment

While there is some research on the prevalence of bridge employment and partial retirement behavior from the worker perspective, we have no evidence about firms’ ability and willingness to accommodate worker demands for job amenities as they transition into retirement.…

UM20-16: Social Security Wealth, Inequality, and Life-cycle Saving

Household wealth inequality in the U.S. has been rising, but those measures do not include Social Security. For individual Social Security participants, Social Security Wealth (SSW) is equal to the present value of future benefits less the present value of…

UM20-17: Saving Regret: Self-assessed Life-cycle Saving Behavior in the U.S. and Singapore

Some studies have raised concerns that many households reach retirement with limited financial resources. The behavioral economics literature posits that procrastination may be an important explanation. We fielded a survey in the RAND American Life Panel, asking respondents ages 60…

2019

UM19-01: Trends in Disability and the Use of Disability Insurance

There is mounting evidence that the health of older, working age adults, the most frequent claimants of DI benefits, is worsening.  At the same time, there is some evidence from SSA actuaries that after adjusting for demographic factors, the percent…

UM19-02: Latent Work Capacity and Retirement Expectations

We propose to develop a new method to assess individuals’ latent work capacity and relate it to: (1) their current employment status, and (2) their expectations about their probabilities of working at older ages. To do this, we will use…

UM19-03: Understanding Retirement Plan Default Behavior: The Case of OregonSaves

Insuring retirement security is an important challenge for our aging society. Accordingly, policymakers are interested in a range of policies to help individuals save more for retirement on their own. One reform currently being tested is for specific states to…

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