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Distributional Effects of Means Testing Social Security: Income Versus Wealth

Author

Listed:
  • Alan Gustman
  • Thomas Steinmeier
  • Nahid Tabatabai

Abstract

This paper compares Social Security means tests that would reduce benefits for recipients who fall in the top quarter of the income distribution with means tests aimed at those in the top quarter of the wealth distribution. The analysis is based on data from the Health and Retirement Study and covers individuals aged 69 to 79 in 2010. [Working Paper 22424]

Suggested Citation

  • Alan Gustman & Thomas Steinmeier & Nahid Tabatabai, 2016. "Distributional Effects of Means Testing Social Security: Income Versus Wealth," Working Papers id:11111, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:11111
    Note: Institutional Papers
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    File URL: http://www.esocialsciences.org/Articles/show_Article.aspx?acat=InstitutionalPapers&aid=11111
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    References listed on IDEAS

    as
    1. Alan Gustman & Thomas Steinmeier & Nahid Tabatabai, 2014. "Distributional Effects of Means Testing Social Security: An Exploratory Analysis," Working Papers wp306, University of Michigan, Michigan Retirement Research Center.
    2. Gustman, Alan L. & Steinmeier, Thomas L. & Tabatabai, Nahid, 2014. "Mismeasurement of pensions before and after retirement: the mystery of the disappearing pensions with implications for the importance of Social Security as a source of retirement support," Journal of Pension Economics and Finance, Cambridge University Press, vol. 13(1), pages 1-26, January.
    3. Christopher Wimer & Lucas Manfield, 2015. "Elderly Poverty in the United States in the 21st Century: Exploring the Role of Assets in the Supplemental Poverty Measure," Working Papers, Center for Retirement Research at Boston College wp2015-29, Center for Retirement Research.
    4. Moffitt, Robert A. (ed.), 2016. "Economics of Means-Tested Transfer Programs in the United States, Volume II," National Bureau of Economic Research Books, University of Chicago Press, number 9780226392493.
    5. Moffitt, Robert A. (ed.), 2016. "Economics of Means-Tested Transfer Programs in the United States, Volume I," National Bureau of Economic Research Books, University of Chicago Press, number 9780226370477.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Social Security finances; Social Security Administration; Health and Retirement Study; Primary Insurance Amount (PIA); Social Security Windfall Elimination Provision (WEP);
    All these keywords.

    JEL classification:

    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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