Monthly Seminar May 30, 2014 Project Director: Dr. A. Hervani Faculty Mentors: Dr. P. Aka; Dr. E. Arnott-Hill Fellow: R. Spaulding

 Baby Boomers  Elderly  Early retirees  Singles/Head of households  Gender - Female  Mid-50s  Ethnic groups – African-Americans, Hispanics  Entrepreneurs

Socio-economic changes:  Availability of employer retirement benefits (changes from defined-benefit plans to defined-contribution plans to individual plans)  Forced early retirement  Poverty  Health  Social Security  Savings  Investments

 Financial knowledge (pension incentives, income tax credits)  Financial practices (saving, budgeting, personal decision-making)  Wealth vs Income  Wealth gap  Gender gap  Elder care; long-term care  Health; disabilities, chronic illness

 U.S. Social Security Administration/Modeling Income in the Near Term (MINT)/ Micro-simulation  Eurostat & U.S. Census Bureau/European Union Statistics on Income and Living Conditions (EU-SILC), U.S. Panel Study of Income Dynamics (US-PSID)/Comparative analysis  U.S. Census of Population and Housing/ 5% Public Use Microdata Sample (PUMS)/ Multivariate Models

 National Institute on Aging & Social Security Administration/University of Michigan Health and Retirement Study (HRS), Waves 1-4/multivariate models; simulations, structural retirement model, descriptive statistics, comparatives  Survey of Consumer Finances (SCF)/Urban Institute’s DYNASIM3/micro-simulation model  Statistics Canada’s Research Data Centre/2009 Canadian Financial Capability Survey (CFCS)/Multivariate, regression analyses  Bureau of Labor Statistics/National Longitudinal Survey of Mature Women (NLSMW)/Hierarchical linear model

 Government benefits (support, subsidies)  Fringe benefits (other compensation, i.e. education reimbursement)  Data collection (disaggregation by race, gender, ethnicity)  Opportunities (job training)  Incentives to save  Health insurance (adequate protection)  Financial education (schools, employers)

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