Imperfect Knowledge of Social Security and Pensions

25 Pages Posted: 28 Mar 2005

See all articles by Alan L. Gustman

Alan L. Gustman

Dartmouth College - Department of Economics; National Bureau of Economic Research (NBER)

Thomas L. Steinmeier

Texas Tech University - Department of Economics and Geography

Abstract

This paper measures knowledge about future Social Security and pension benefits by comparing respondent reports with benefits calculated from Social Security records and employer pension plan descriptions. About half of all respondents are unable to report their expected Social Security and pension benefits. For only half of those who do report does Social Security and pension wealth fall within 25 percent of the objective measures. Knowledge about Social Security and pensions is related systematically to information provided in the work environment through the firm and union, and also depends on various factors related to the costs and benefits of gathering information.

Suggested Citation

Gustman, Alan L. and Steinmeier, Thomas L., Imperfect Knowledge of Social Security and Pensions. Available at SSRN: https://ssrn.com/abstract=684334

Alan L. Gustman (Contact Author)

Dartmouth College - Department of Economics ( email )

6106 Rockefeller Center
Hanover, NH 03755
United States
603-646-2641 (Phone)
603-646-2122 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Thomas L. Steinmeier

Texas Tech University - Department of Economics and Geography ( email )

Lubbock, TX 79409-2101
United States
806-742-2201 (Phone)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
22
Abstract Views
967
PlumX Metrics