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How Does Women Working Affect Social Security Replacement Rates?
The Social Security Trustees Report states that replacement rates for the medium earner rose from about 30 percent in the 1970s to 40 percent in the 1980s, where they remain today. However, the focus on individual earners is often misleading as many people work and retire as part of a married couple, making the household a more appropriate unit of analysis. And replacement rates for households depend on more than Social Security provisions; they also depend on the labor force activity of each spouse. These dimensions have been changing dramatically with the increased labor force participation of women. Read more…