Economics of Aging at GSA Meetings

08/13/98

WILL WEALTH AT RETIREMENT SUPPORT RETIREMENT NEEDS?

...is the name of the symposium to be presented by the Economics of Aging interest group at the Gerontological Society of America annual meetings in Philadelphia next fall. We hope members of this listserv will attend.

The symposium will be held on Saturday, November 21, from 3:45 p.m. until 5:30 p.m., in room 408 of the Philadelphia Marriott, and will be chaired by Robert N. Butler of the International Longevity Center and Mount Sinai Medical Center. The EoA business meeting will follow immediately, in the same room, and is open to all interested attendees.

ABSTRACT:

Seven out of ten working adults in the U.S. report that they are worried about not having enough private savings for their own retirement. According to a number of recent polls, more than half say they are either not saving for retirement at all (31%) or are saving inadequately (26%). Surprisingly, these figures are almost identical for those who are closest to retirement.

This symposium, directed to a wide audience with the GSA, focuses on several critical questions regarding the retirement savings crises: How adequate are the savings of pre- retirement Americans? What factors explain these savings shortfalls? Can we learn anything from retirement planning aids? Do older workers actually know how much they will receive from their employer pensions? Session participants include not only academic researchers but also representatives from a number of governmental agencies and private organizations directly concerned with the financial well-being of the older population.

PAPERS:

"Expected Wealth at Retirement: Will It Sustain Pre-Retirement Living Standards?" Marjorie Honig, Hunter College and International Longevity Center

"What Explains Retirement Saving Shortfalls?" Olivia Mitchell and John Phillips, Wharton School, University of Pennsylvania

"What Does Financial Planning Software Say about Americans' Preparedness for Retirement?" Mark Warshawsky and John Ameriks, TIAA-CREF

"Gender Differences in Pension Wealth at Midlife: A Comparison of Self-Reports and Pension-Provider Data" Richard Johnson, Urban Institute, and Usha Sambamoorthi and Stephen Crystal, Rutgers University

DISCUSSANTS:

Steven Sandell, Social Security Administration
Theresa Devine, Congressional Budget Office
Paul Yakoboski, Employee Benefits Research Institute
Debra Dwyer, SUNY-Stony Brook

For more information please contact:

Marjorie Honig
Professor and Chair
Department of Economics
Hunter College
695 Park Avenue
New York, NY 10021
tel: 212-772-5397
fax: 212-772-5398
http://maxweber.hunter.cuny.edu/econ/faculty/honig/

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