Changes in Retirement Savings during the COVID Pandemic

Derby, Elena; Goodman, Lucas; Mackie, Kathleen; Mortenson, Jacob

doi:10.2139/ssrn.4072053

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2022

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“…A smaller literature has explored the effects of the pandemic on retirement and disability benefit claiming. Evidence supports at least a small increase in retirement (Goda et al, 2022;Cortes and Forsythe, 2022;McEntarfer, 2022) and sustained levels of retirement savings (Derby et al, 2022), but no effect on Social Security retirement (SSR) benefit claims (Quinby et al, 2021;Goda et al, 2022). Goda et al (2022) also find that the widely documented labor market exits following the onset of COVID-19 were not matched by major changes in the likelihood of individuals reporting not being in the labor force due to disability.…”

Section: Introductionmentioning

confidence: 99%