Abstract
Abstract Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and Retirement Survey and the New Beneficiary Survey linked to administrative records to assess and compare the saving adequacy of two different cohorts. Specifically, the two groups are compared in terms of their annuitized net wealth (ANW) and ANW relative to the poverty line, as well as the near-poverty line. Results show that the mean wealth levels of both new retiree cohorts rose over time (by about two-thirds for wealth and by half for ANW), but the chance of meeting social adequacy targets has also risen. This shortfall is concentrated increasingly among non-married persons, and those with low human capital and labor force attachment. In other words, vulnerability during the working life appears to persist into retirement.
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