How Effective Is the Social Security Statement? Informing Younger Workers About Social Security

Social Security Bulletin. 74(4): 1-19, 2014

19 Pages Posted: 9 Nov 2014 Last revised: 25 Apr 2015

See all articles by Barbara A. Smith

Barbara A. Smith

Government of the United States of America, Social Security Administration, Office of Retirement Policy

Kenneth A. Couch

University of Connecticut - Department of Economics

Date Written: November 12, 2014

Abstract

This article analyzes the impact of the Social Security Statement on younger workers' knowledge of Social Security programs and benefits, using data from surveys commissioned by the Social Security Administration (SSA). We found that younger workers generally were knowledgeable about Social Security before receiving a Statement and significantly more so afterward. Younger workers' knowledge was stronger in broader program-level aspects than in some narrower benefit-specific aspects. The gap in knowledge about benefits poses potential risks for their retirement security and indicates that SSA should emphasize certain types of information in continuing outreach efforts. We found no consistent knowledge gaps related to demographic characteristics that would indicate a need for targeted outreach to certain groups.

Keywords: Social Security, Retirement

JEL Classification: H55, J26

Suggested Citation

Smith, Barbara A. and Couch, Kenneth A., How Effective Is the Social Security Statement? Informing Younger Workers About Social Security (November 12, 2014). Social Security Bulletin. 74(4): 1-19, 2014, Available at SSRN: https://ssrn.com/abstract=2520539

Barbara A. Smith (Contact Author)

Government of the United States of America, Social Security Administration, Office of Retirement Policy ( email )

500 E Street, SW
Washington, DC 20254
United States

Kenneth A. Couch

University of Connecticut - Department of Economics ( email )

365 Fairfield Way, U-1063
Storrs, CT 06269-1063
United States
860-486-3022 (Phone)
860-486-4463 (Fax)

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
62
Abstract Views
1,029
Rank
632,837
PlumX Metrics