The growth of women in the workforce is placing downward pressure on the amount of pre-retirement income that Social Security replaces.
A study by the Center for Retirement Research at Boston College examined replacement rates for the average worker and determined that a more accurate measurement of replacement rates is needed to target couples because they operate as a unit.
What the center found is that the amount of pre-retirement income replaced by Social Security depends on the labor force activity of both spouses. At the high end, couples with a non-working spouse get the replacement rate from the worker's benefit and from a spousal benefit, which could replace about 60 percent of the couple's pre-retirement income.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
