Social Security Bulletin, Vol. 78, No. 2

(released May 2018)
by David Rogofsky, Richard E. Chard, and Joanne Yoong

Saving for retirement has traditionally been compared to a three-legged stool supported by Social Security benefits, workplace pensions, and household savings. As the prevalence of defined benefit pensions has diminished in recent decades, the importance of household savings has grown. To enable and encourage saving among lower-income Americans, policymakers have established several types of tax incentives. The Earned Income Tax Credit (EITC) provides an immediate reduction in income tax liability (or a larger refund) for eligible households. Additionally, certain types of retirement saving accounts and defined contribution saving plans lower current tax liability by deferring taxation of the amounts contributed until the funds are withdrawn in retirement. Using data from the Understanding America Study, this article compares the retirement-related financial behavior and preparedness of EITC-eligible and ineligible households and examines whether EITC eligibility affects the use of tax-advantaged retirement saving plans.

by Laith Alattar, Matt Messel, and David Rogofsky

This article provides an overview of the Understanding America Study (UAS), a nationally representative Internet panel of approximately 6,000 adult respondents that is administered by the University of Southern California. The UAS, which began in 2014, represents one of the richest sources of panel data available in the United States. It includes over 50 survey modules on topics such as retirement planning, economic well-being, and psychological constructs. This article reviews the UAS methodology; describes how external researchers may commission UAS surveys, incorporate their own survey questions and methodological experiments, and conduct randomized controlled trials; highlights selected publicly available data from UAS surveys on cognition, personality, financial literacy and behaviors, political views, and other topics; and discusses opportunities for external parties to work with UAS administrators in developing new surveys and future lines of research.

by John Gettens, Pei-Pei Lei, and Alexis D. Henry

There is wide geographic variation in Social Security Disability Insurance and Supplementary Security Income participation across the United States. The authors describe the variation. Using data from Social Security Administration reports and results from the Census Bureau's American Community Survey, the authors decompose the geographic variation in program participation into component parts including variation in disability prevalence and variation in program participation among working-age persons with disabilities. The variation in participation among persons with disabilities is further decomposed into socioeconomic subcomponents.