Shifting Income Sources of the Aged

by Chris E. Anguelov, Howard M. Iams, and Patrick J. Purcell
Social Security Bulletin, Vol. 72, No. 3, 2012
Table equivalent for Chart 1. Share of individuals aged 65 or older who have an IRA or 401(k): 1998, 2006, and 2009
Year 65 to 69 70 or older All persons 65 or older
1998 37.1 18.8 24.3
2006 43.0 31.2 34.6
2009 45.3 33.8 37.4
SOURCE: Authors' calculations based on SIPP 1996, 2004, and 2008 panels.
Table equivalent for Chart 2. Percentage of households headed by persons aged 65 or older that have financial assets in retirement savings accounts, selected years 1992–2007
Year Percent
1992 22.8
1995 27.3
1998 32.1
2001 36.5
2004 36.1
2007 40.8
SOURCE: SCF.
Table equivalent for Chart 3. Median value of assets held in retirement savings accounts among households headed by people aged 65 or older
Year Assets (thousands of dollars)
1992 28.9
1995 36.5
1998 44.6
2001 66.7
2004 60.4
2007 60.8
SOURCE: SCF.
Table equivalent for Chart 4. Shares of IRA or 401(k) holders aged 65 or older who take withdrawals: 1998, 2006, and 2009
Year 65 to 69 70 or older All persons 65 or older
1998 20.9 70.4 47.8
2006 22.0 72.4 54.5
2009 20.1 59.2 44.3
SOURCE: Authors' calculations based on SIPP 1996, 2004, and 2008 panels.
Table equivalent for Chart 5. Percentage of individuals aged 65 or older who have pension income, by plan type: 1998, 2006, and 2009
Year 65 to 69 70 or older All persons 65 or older
  DB
1998 48.1 51.4 50.4
2006 42.8 51.4 48.9
2009 44.0 51.9 49.4
  DC
1998 8.0 13.5 11.8
2006 10.0 23.4 19.5
2009 9.8 20.9 17.4
SOURCE: Authors' calculations based on SIPP 1996, 2004, and 2008 panels.
Table equivalent for Chart 6. Mean and median annual DB pension income among people aged 65 or older with a DB pension: 1998, 2006, and 2009
Year 65 to 69 70 or older All persons 65 or older
  Mean
1998 12.8 9.0 11.3
2006 16.0 13.0 13.8
2009 16.7 12.0 14.8
  Median
1998 10.7 6.9 7.4
2006 12.0 8.7 9.2
2009 14.0 9.6 10.2
SOURCE: Authors' calculations based on SIPP 1996, 2004, and 2008 panels.
Table equivalent for Chart 7. Mean and median annual DC pension income of people aged 65 or older with an IRA or 401(k): 1998, 2006, and 2009
Year 65 to 69 70 or older All persons 65 or older
  Mean
1998 12.8 6.4 7.7
2006 9.6 7.1 7.5
2009 10.0 6.4 7.1
  Median
1998 4.6 2.3 2.6
2006 5.3 2.7 3.0
2009 4.8 2.4 2.8
SOURCE: Authors' calculations based on SIPP 1996, 2004, and 2008 panels.