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The Pension Factor: Assessing The Role Of Defined Benefit Plans In Reducing Elder Hardships, Frank Porell, Beth Almeida
The Pension Factor: Assessing The Role Of Defined Benefit Plans In Reducing Elder Hardships, Frank Porell, Beth Almeida
Gerontology Institute Publications
Traditional defined benefit (DB) pension plans have long been an important source of income for elder households seeking to maintain a middle-class standard of living after a lifetime of work. Under traditional DB plans, retirees receive a guaranteed, regular stream of income after retirement that continues until death.
The monthly pension benefit is typically based on years of service to the employer, age, and salary history. Retirees also have the option to elect a joint-and-survivor benefit, to ensure that pension payments continue to a surviving spouse. DB plan participation rates among private sector American workers have sharply decreased from about …
On The Edge: Facing A Challenging And Uncertain Future. Elder Economic Security Standard™ For The Boston Area, Laura Henze Russell, Ellen A. Bruce, Judith M. Conahan
On The Edge: Facing A Challenging And Uncertain Future. Elder Economic Security Standard™ For The Boston Area, Laura Henze Russell, Ellen A. Bruce, Judith M. Conahan
Gerontology Institute Publications
What is an adequate income for older adults in the Boston area to age in place? How does it vary according to their life circumstances: whether they are living alone or with a spouse, rent or own their home, drive a car or use other transportation? How do Boston area elders’ living costs change as their health status and life circumstances change? What happens if they need long-term care to keep living at home?
This report will address these questions through the development of a measure of income adequacy for older adults, the Elder Economic Security Standard (Elder Standard). The …