The Increasing Labor Force Participation of Older Workers and its Effect on the Income of the Aged

by Michael V. Leonesio, Benjamin Bridges, Robert Gesumaria, and Linda Del Bene
Social Security Bulletin, Vol. 72 No. 1, 2012
Table equivalent for Chart 1. LFPRs for the population aged 62–79, by age group and sex, 1980–2010
Year Age group
62–64 65–69 70–74 75–79
  Men
1980 52.90 28.65 18.26 12.30
1981 49.74 28.17 16.96 11.91
1982 48.37 27.25 16.96 11.11
1983 47.61 26.42 17.33 10.61
1984 47.94 24.63 16.20 10.18
1985 46.11 24.64 14.97 9.13
1986 45.86 25.09 14.92 8.28
1987 46.34 25.87 14.77 9.71
1988 45.30 25.86 15.34 9.97
1989 45.39 26.15 15.48 9.56
1990 46.58 26.03 15.50 9.51
1991 45.61 25.13 14.84 8.80
1992 46.16 26.08 15.08 9.08
1993 46.07 25.56 14.84 8.85
1994 45.36 26.96 15.90 9.84
1995 45.11 27.12 16.96 9.96
1996 45.72 27.61 17.49 9.92
1997 46.41 28.60 17.39 10.82
1998 47.41 28.86 16.98 10.72
1999 47.28 29.33 17.88 11.17
2000 47.33 30.92 18.38 11.16
2001 49.07 30.82 18.66 11.20
2002 51.06 31.98 18.17 10.59
2003 50.05 32.84 19.08 11.80
2004 50.79 33.02 19.40 12.78
2005 52.61 33.71 21.31 13.47
2006 52.85 34.33 22.31 13.91
2007 52.19 34.09 21.88 14.28
2008 53.31 35.28 22.80 14.08
2009 55.17 35.55 23.40 14.38
2010 55.08 36.06 22.96 14.53
  Women
1980 28.63 15.10 7.46 3.73
1981 27.74 15.06 7.43 4.04
1982 28.84 14.96 7.24 4.19
1983 28.96 14.94 7.49 3.90
1984 28.79 14.25 7.55 3.78
1985 28.64 13.50 7.58 3.47
1986 28.51 14.34 6.95 3.84
1987 27.88 14.27 6.80 3.64
1988 28.55 15.40 7.57 3.67
1989 30.26 16.40 7.98 3.79
1990 30.60 17.07 8.20 3.92
1991 29.13 16.96 7.99 4.56
1992 30.30 16.24 8.13 4.49
1993 31.70 16.24 7.91 4.35
1994 33.12 18.04 8.70 4.43
1995 32.51 17.70 9.42 4.86
1996 31.74 17.33 8.92 4.73
1997 33.73 17.63 9.07 4.30
1998 33.49 18.29 9.79 4.54
1999 33.73 18.89 10.12 5.44
2000 34.72 20.14 10.25 5.55
2001 36.84 20.48 11.31 5.18
2002 38.06 20.81 11.25 5.75
2003 38.59 22.82 11.36 6.20
2004 38.79 23.54 12.19 6.43
2005 40.21 23.93 12.99 7.02
2006 41.80 24.76 13.36 7.26
2007 42.18 25.90 14.36 7.97
2008 42.45 26.57 14.73 7.96
2009 44.00 26.73 15.11 8.30
2010 45.42 27.13 14.94 8.40
SOURCE: Authors' calculations using CPS monthly files.
NOTE: Annual figures are weighted arithmetic means of the 12 monthly values.
Table equivalent for Chart 2a. LFPRs for men aged 62–79 by age group: Wage-and-salary versus self-employed workers by full-time versus part-time work status, 1980–2010
Year Wage and salary Self-employed
Full time Part time Full time Part time
  Men 62–64
1980 36.67 5.72 7.61 2.90
1981 34.85 5.41 7.22 2.26
1982 32.80 5.64 7.15 2.78
1983 32.72 5.45 6.79 2.64
1984 32.77 5.70 6.62 2.85
1985 30.67 5.78 6.87 2.82
1986 30.78 6.03 6.47 2.54
1987 31.29 5.80 6.81 2.41
1988 29.79 6.82 6.24 2.44
1989 25.96 6.53 9.60 3.30
1990 26.73 6.64 9.54 3.67
1991 25.57 6.45 10.43 3.12
1992 26.54 6.50 9.81 3.30
1993 25.96 6.63 10.14 3.37
1994 23.41 8.99 8.21 4.76
1995 23.59 9.04 8.14 4.37
1996 25.03 8.82 7.86 4.00
1997 23.81 9.08 8.75 4.80
1998 24.63 9.40 9.05 4.33
1999 25.60 9.54 8.22 3.92
2000 25.80 8.87 8.80 3.86
2001 26.54 9.44 9.14 3.91
2002 28.24 9.87 9.13 3.81
2003 28.09 8.87 8.87 4.25
2004 29.18 8.73 8.91 3.98
2005 30.49 9.49 8.48 4.13
2006 30.24 9.05 9.21 4.35
2007 30.19 8.55 9.36 4.09
2008 32.37 8.72 8.40 3.81
2009 31.94 10.49 8.83 3.94
2010 33.41 9.64 8.03 3.98
  Men 65–69
1980 11.91 8.48 4.54 3.74
1981 11.64 8.33 4.70 3.48
1982 11.28 8.32 4.36 3.27
1983 11.25 7.76 4.32 3.08
1984 10.93 6.80 3.78 3.13
1985 10.62 7.16 4.06 2.77
1986 10.50 7.70 3.96 2.92
1987 11.24 7.93 3.81 2.90
1988 11.30 7.49 3.92 3.16
1989 9.33 7.28 5.68 3.87
1990 9.23 7.53 5.56 3.69
1991 8.78 7.42 5.14 3.78
1992 9.26 6.97 5.93 3.89
1993 9.22 7.02 5.51 3.78
1994 8.24 8.45 4.94 5.35
1995 8.72 8.56 5.04 4.83
1996 9.41 8.78 4.94 4.49
1997 9.66 8.86 5.44 4.64
1998 9.66 9.57 4.97 4.67
1999 10.55 9.54 4.72 4.51
2000 12.20 9.34 5.03 4.35
2001 12.68 9.04 5.01 4.07
2002 13.08 9.68 5.14 4.09
2003 13.62 9.07 5.82 4.33
2004 14.02 8.54 6.06 4.40
2005 14.41 8.56 6.29 4.48
2006 15.83 8.36 5.86 4.30
2007 16.27 8.53 5.56 3.75
2008 16.40 8.74 6.16 3.98
2009 16.23 9.34 5.66 4.31
2010 17.33 8.81 5.84 4.06
  Men 70–74
1980 5.42 7.02 2.87 2.98
1981 4.58 6.65 2.95 2.75
1982 4.92 6.17 2.88 2.99
1983 5.01 6.21 2.95 3.12
1984 4.91 5.66 2.70 2.93
1985 4.49 5.51 2.40 2.60
1986 3.84 6.01 2.64 2.42
1987 4.41 5.15 2.56 2.65
1988 4.83 5.59 2.51 2.42
1989 3.79 5.45 3.46 2.78
1990 3.94 5.01 3.25 3.31
1991 3.88 4.72 3.22 3.01
1992 3.94 5.29 3.26 2.62
1993 3.43 4.94 3.32 3.18
1994 3.82 5.22 2.96 3.88
1995 4.01 5.90 3.22 3.83
1996 4.14 5.78 3.42 4.14
1997 4.34 5.70 3.45 3.91
1998 4.17 6.32 2.71 3.80
1999 4.53 6.60 3.02 3.76
2000 5.01 6.70 3.38 3.30
2001 5.12 7.06 3.10 3.41
2002 5.37 6.65 3.32 2.81
2003 6.08 6.61 3.39 3.00
2004 5.85 6.75 3.47 3.31
2005 6.66 6.91 3.97 3.80
2006 7.49 7.12 3.97 3.73
2007 8.28 6.95 3.38 3.27
2008 8.35 7.10 3.86 3.47
2009 8.95 7.12 3.50 3.83
2010 8.70 7.05 3.87 3.33
  Men 75–79
1980 3.40 4.06 2.09 2.75
1981 2.84 4.37 2.19 2.46
1982 2.53 3.95 2.11 2.53
1983 2.53 3.62 2.17 2.33
1984 2.47 3.48 2.02 2.22
1985 2.22 3.62 1.59 1.69
1986 2.01 2.82 1.48 2.01
1987 1.98 3.44 1.84 2.40
1988 2.58 3.55 1.66 2.22
1989 1.77 3.19 2.30 2.30
1990 1.91 3.17 2.13 2.26
1991 1.74 2.89 2.04 2.13
1992 1.77 3.33 1.86 2.07
1993 1.55 3.18 2.00 2.08
1994 1.71 3.47 2.08 2.57
1995 1.81 3.51 1.62 3.05
1996 2.07 3.29 1.96 2.59
1997 2.35 3.40 2.28 2.75
1998 1.95 3.76 2.08 2.90
1999 2.28 4.06 2.18 2.64
2000 2.73 3.65 2.34 2.47
2001 2.65 4.14 2.22 2.15
2002 2.62 3.52 2.13 2.29
2003 3.49 4.09 2.08 2.14
2004 3.32 4.26 2.26 2.94
2005 3.61 4.53 2.63 2.72
2006 3.60 4.76 2.57 2.98
2007 3.94 4.80 2.43 3.11
2008 4.14 5.05 2.05 2.84
2009 4.64 4.82 2.29 2.66
2010 4.77 4.52 2.32 2.92
SOURCE: Authors' calculations using CPS monthly files.
NOTE: Annual figures are weighted arithmetic means of the 12 monthly values. Part time is defined as working fewer than 35 hours per week.
Table equivalent for Chart 2b. LFPRs for women aged 62–79 by age group: Wage-and-salary versus self-employed workers by full-time versus part-time work status, 1980–2010
Year Wage and salary Self-employed
Full time Part time Full time Part time
  Women 62–64
1980 17.62 8.47 1.32 1.22
1981 16.11 9.12 1.23 1.26
1982 16.86 9.38 1.32 1.29
1983 17.33 8.94 1.34 1.34
1984 17.58 8.85 1.20 1.17
1985 16.46 9.95 1.09 1.14
1986 16.22 9.90 1.34 1.05
1987 16.51 8.78 1.22 1.37
1988 16.30 9.30 1.43 1.52
1989 15.66 11.00 1.87 1.73
1990 16.19 10.85 1.87 1.69
1991 15.54 9.87 1.97 1.76
1992 16.19 10.21 1.92 1.98
1993 16.55 11.11 2.11 1.92
1994 14.96 13.03 2.49 2.64
1995 15.09 12.68 2.12 2.61
1996 14.69 12.18 2.21 2.67
1997 15.37 12.71 2.43 3.19
1998 15.08 13.20 2.24 2.93
1999 16.07 12.97 2.09 2.63
2000 17.02 12.88 2.10 2.73
2001 18.50 13.14 2.35 2.85
2002 19.55 13.33 2.52 2.63
2003 19.73 13.13 2.65 3.08
2004 20.09 12.95 2.92 2.87
2005 21.26 13.25 2.51 3.20
2006 22.29 13.62 3.06 2.81
2007 23.41 13.50 2.71 2.54
2008 22.73 14.09 2.66 2.97
2009 24.13 14.08 2.79 3.00
2010 25.73 13.83 2.79 3.07
  Women 65–69
1980 5.78 7.54 0.70 1.08
1981 5.73 7.37 0.88 1.07
1982 5.77 7.06 0.90 1.22
1983 5.81 7.21 0.67 1.24
1984 5.57 6.79 0.70 1.19
1985 5.00 6.83 0.70 0.97
1986 5.45 7.16 0.73 1.00
1987 5.37 6.99 0.86 1.05
1988 6.05 7.36 0.82 1.19
1989 6.18 7.60 1.22 1.40
1990 6.34 8.22 1.19 1.34
1991 5.96 8.34 1.24 1.42
1992 5.94 7.75 1.10 1.46
1993 5.92 7.91 0.99 1.45
1994 5.02 9.42 1.18 2.42
1995 5.06 9.14 1.02 2.49
1996 5.16 8.89 1.11 2.16
1997 5.48 8.56 1.23 2.35
1998 5.72 9.35 1.08 2.14
1999 6.20 9.44 1.20 2.05
2000 6.95 9.66 1.23 2.30
2001 7.21 9.86 1.11 2.30
2002 8.00 9.56 1.35 1.90
2003 9.00 9.93 1.65 2.25
2004 9.01 10.72 1.65 2.19
2005 9.26 10.52 1.87 2.30
2006 9.67 10.82 1.82 2.45
2007 10.75 10.82 1.84 2.49
2008 11.35 11.22 1.70 2.30
2009 11.35 11.11 1.67 2.61
2010 12.13 10.74 1.88 2.38
  Women 70–74
1980 2.12 4.00 0.59 0.75
1981 2.08 3.94 0.50 0.92
1982 1.87 4.09 0.42 0.86
1983 2.05 4.12 0.51 0.79
1984 1.98 4.41 0.45 0.71
1985 1.87 4.38 0.50 0.83
1986 1.69 3.98 0.49 0.77
1987 1.90 3.77 0.44 0.72
1988 2.36 4.10 0.34 0.78
1989 2.36 4.17 0.50 0.93
1990 2.33 4.53 0.54 0.79
1991 2.27 4.28 0.57 0.84
1992 2.22 4.33 0.60 0.98
1993 2.29 4.06 0.59 0.95
1994 1.96 4.54 0.60 1.60
1995 2.25 5.19 0.50 1.51
1996 2.01 4.98 0.50 1.43
1997 2.05 4.88 0.54 1.59
1998 2.07 5.67 0.56 1.48
1999 2.43 5.76 0.59 1.36
2000 2.89 5.27 0.61 1.48
2001 2.95 5.96 0.73 1.66
2002 3.31 5.90 0.74 1.27
2003 3.18 6.34 0.56 1.30
2004 3.53 6.50 0.71 1.46
2005 3.75 6.70 1.02 1.52
2006 4.13 6.71 0.89 1.65
2007 4.43 7.25 0.86 1.81
2008 5.14 6.91 0.99 1.66
2009 4.80 7.17 1.11 2.01
2010 4.91 7.15 1.09 1.79
  Women 75–79
1980 0.81 1.93 0.42 0.60
1981 0.99 2.12 0.39 0.57
1982 1.07 2.25 0.30 0.54
1983 0.91 2.11 0.26 0.62
1984 0.94 1.97 0.32 0.58
1985 0.95 1.80 0.22 0.54
1986 0.94 2.07 0.25 0.57
1987 0.84 2.02 0.25 0.53
1988 0.78 2.15 0.27 0.51
1989 0.78 1.97 0.32 0.72
1990 0.95 1.93 0.37 0.66
1991 1.00 2.51 0.40 0.63
1992 1.11 2.47 0.34 0.54
1993 0.98 2.44 0.36 0.53
1994 0.84 2.31 0.47 0.84
1995 0.82 2.62 0.41 1.01
1996 0.88 2.73 0.36 0.78
1997 0.91 2.43 0.23 0.73
1998 0.98 2.48 0.30 0.80
1999 1.16 2.82 0.45 0.99
2000 1.42 2.86 0.39 0.89
2001 1.37 2.69 0.35 0.74
2002 1.44 3.02 0.46 0.86
2003 1.72 3.21 0.39 0.87
2004 1.68 3.50 0.30 0.93
2005 2.05 3.63 0.40 0.94
2006 1.93 3.82 0.51 1.02
2007 2.01 4.14 0.55 1.27
2008 2.36 4.19 0.34 1.08
2009 2.64 4.14 0.29 1.20
2010 2.63 4.21 0.55 1.01
SOURCE: Authors' calculations using CPS monthly files.
NOTE: Annual figures are weighted arithmetic means of the 12 monthly values. Part time is defined as working fewer than 35 hours per week.
Table equivalent for Chart 3. Distribution of total money income by source, all persons aged 62–79 by age group, 1980–2009
Year Earnings Pension benefits Social Security Asset income Other income
  Ages 62–64
1980 54.66 12.41 16.26 13.59 3.05
1981 53.23 11.97 17.04 14.54 3.20
1982 53.10 11.94 17.05 15.02 2.87
1983 53.91 13.22 16.34 13.60 2.91
1984 51.67 12.28 16.15 17.14 2.73
1985 51.01 12.89 15.95 17.26 2.87
1986 53.16 13.63 14.58 15.91 2.69
1987 52.69 14.78 14.68 14.54 3.28
1988 51.03 15.53 15.50 15.17 2.75
1989 52.28 14.61 14.33 15.25 3.51
1990 50.41 16.20 14.63 15.60 3.14
1991 51.05 15.62 15.02 14.74 3.55
1992 50.57 16.13 16.55 12.78 3.94
1993 52.83 15.35 16.75 10.89 4.15
1994 53.24 16.50 16.56 10.26 3.42
1995 53.05 15.57 15.40 12.77 3.19
1996 56.10 14.80 15.23 10.80 3.04
1997 54.95 13.76 14.73 13.30 3.23
1998 54.82 14.82 15.47 11.93 2.92
1999 56.50 14.85 13.88 12.07 2.67
2000 58.08 13.34 15.03 10.74 2.79
2001 59.44 13.19 14.49 10.05 2.79
2002 59.99 13.63 15.00 8.07 3.28
2003 59.90 13.46 14.69 9.12 2.79
2004 62.33 12.54 13.30 9.13 2.68
2005 63.02 12.19 12.48 9.42 2.87
2006 61.31 12.48 12.92 10.37 2.88
2007 62.32 12.43 12.31 10.17 2.74
2008 66.14 11.91 11.63 7.70 2.60
2009 65.55 11.05 11.47 8.14 3.77
  Ages 65-69
1980 27.93 15.55 33.61 20.02 2.86
1981 28.64 14.56 33.72 20.37 2.68
1982 27.09 15.34 33.81 21.35 2.39
1983 25.36 16.77 35.31 20.08 2.46
1984 24.72 15.75 33.39 23.54 2.58
1985 24.67 16.48 33.05 22.98 2.79
1986 25.96 16.96 31.60 22.72 2.73
1987 27.32 19.48 30.59 19.42 3.16
1988 27.00 19.25 30.29 20.73 2.72
1989 28.82 18.98 27.76 21.54 2.88
1990 27.62 19.58 29.03 20.64 3.10
1991 26.33 19.77 30.41 20.26 3.20
1992 27.11 20.49 31.22 18.24 2.92
1993 28.72 19.47 31.08 16.96 3.76
1994 29.91 18.99 32.86 14.81 3.41
1995 31.34 17.64 31.56 16.25 3.17
1996 31.79 18.76 30.88 15.57 2.97
1997 31.61 18.00 29.81 17.92 2.64
1998 32.03 18.32 29.29 17.80 2.53
1999 32.55 17.56 28.39 18.79 2.69
2000 34.49 16.78 30.37 15.56 2.77
2001 34.81 17.44 30.62 14.72 2.38
2002 39.45 17.21 30.52 10.22 2.57
2003 37.29 17.64 30.85 11.78 2.41
2004 38.78 17.26 29.81 11.56 2.56
2005 41.50 15.38 28.84 11.66 2.59
2006 40.87 15.62 28.50 12.80 2.18
2007 41.42 15.37 26.87 14.09 2.22
2008 43.00 16.18 27.94 10.70 2.16
2009 41.88 16.16 29.65 9.26 3.03
  Ages 70–74
1980 14.50 14.70 44.31 23.54 2.92
1981 12.47 14.74 43.80 26.46 2.50
1982 13.62 14.48 42.79 26.72 2.36
1983 11.29 15.21 43.97 26.53 2.97
1984 10.76 14.95 41.30 30.07 2.90
1985 12.33 15.36 43.51 26.07 2.70
1986 12.25 15.63 42.06 27.73 2.31
1987 13.41 17.76 40.04 26.09 2.68
1988 12.73 18.68 40.58 25.25 2.73
1989 12.79 18.31 40.12 26.00 2.75
1990 13.36 19.26 38.62 25.77 2.96
1991 14.02 21.27 38.86 22.39 3.45
1992 14.78 21.96 40.12 19.94 3.17
1993 14.43 22.84 41.02 17.52 4.17
1994 14.71 21.91 42.89 16.91 3.56
1995 16.04 20.80 41.65 17.92 3.57
1996 15.92 21.49 41.56 18.17 2.84
1997 14.42 21.04 40.60 20.63 3.28
1998 17.44 21.86 38.86 18.94 2.87
1999 19.19 19.63 38.67 19.77 2.71
2000 19.79 19.83 40.15 17.32 2.89
2001 19.70 19.91 40.01 17.51 2.84
2002 20.85 20.16 41.85 14.00 3.12
2003 22.34 20.93 39.08 15.14 2.49
2004 25.17 20.90 39.01 12.16 2.74
2005 25.07 20.14 38.44 13.50 2.83
2006 23.81 19.72 39.04 14.76 2.64
2007 24.72 18.98 38.01 15.91 2.36
2008 26.66 19.05 38.46 13.19 2.62
2009 27.54 18.61 39.86 11.27 2.69
  Ages 75–79
1980 8.56 13.18 47.81 26.63 3.79
1981 7.16 13.61 48.02 28.41 2.78
1982 6.08 12.77 47.55 30.78 2.79
1983 6.72 13.98 47.16 29.20 2.91
1984 6.37 13.92 45.59 31.52 2.58
1985 6.23 14.19 46.67 30.38 2.51
1986 5.47 15.28 47.69 28.71 2.83
1987 7.60 16.47 45.47 27.90 2.53
1988 8.93 16.15 44.06 28.05 2.79
1989 7.82 15.52 44.78 28.70 3.15
1990 7.43 17.63 45.30 27.03 2.58
1991 7.75 18.10 45.42 25.73 2.98
1992 7.34 20.22 47.11 22.35 2.95
1993 8.13 20.74 47.39 20.78 2.94
1994 8.69 19.20 47.49 20.98 3.61
1995 8.59 19.03 48.69 20.43 3.23
1996 10.54 18.47 48.18 19.49 3.29
1997 10.02 20.20 45.19 21.12 3.45
1998 8.65 20.07 44.06 23.10 4.10
1999 10.36 21.33 43.73 20.98 3.58
2000 12.63 20.17 45.11 19.08 2.99
2001 10.60 20.97 46.33 18.21 3.87
2002 11.87 20.93 45.77 17.51 3.89
2003 14.04 21.36 46.51 14.50 3.56
2004 14.38 22.04 47.00 14.10 2.46
2005 15.42 21.71 45.20 14.65 2.99
2006 15.28 19.83 44.55 17.03 3.29
2007 14.87 20.32 44.48 17.11 3.20
2008 12.93 21.95 46.03 15.94 3.13
2009 17.78 20.39 45.97 12.80 3.04
SOURCE: Authors' calculations using CPS ASEC data.
Table equivalent for Chart 4. Distribution of total money income by source, all persons aged 62–79 with earnings by age group, 1980–2009
Year Earnings Pension benefits Social Security Asset income Other income
  Earners 62–64
1980 73.02 7.28 8.28 9.88 1.51
1981 71.61 6.61 8.68 11.74 1.33
1982 70.77 7.30 8.57 11.74 1.60
1983 73.36 7.46 7.95 9.84 1.36
1984 70.94 6.15 7.84 13.58 1.47
1985 70.60 7.62 8.15 12.41 1.20
1986 71.29 8.29 7.20 11.88 1.31
1987 70.43 8.65 7.69 11.26 1.93
1988 69.29 8.79 7.95 12.60 1.34
1989 70.91 8.11 7.52 11.79 1.66
1990 68.53 9.41 7.81 12.53 1.69
1991 68.99 9.93 7.67 11.24 2.14
1992 69.68 9.04 9.11 10.19 1.95
1993 70.85 8.58 9.54 8.60 2.41
1994 69.83 10.38 9.07 8.68 2.01
1995 69.80 9.60 8.37 10.22 1.99
1996 72.46 9.09 8.43 8.46 1.53
1997 71.04 8.75 7.56 11.22 1.41
1998 69.15 10.07 8.17 11.10 1.48
1999 72.14 8.87 7.38 10.41 1.18
2000 73.18 7.92 7.97 9.15 1.76
2001 74.45 8.63 7.70 7.57 1.62
2002 76.07 8.50 7.71 6.08 1.61
2003 75.56 7.88 7.63 7.34 1.57
2004 76.74 7.30 7.05 7.46 1.42
2005 76.40 7.41 6.54 8.14 1.48
2006 75.20 7.81 6.76 8.82 1.38
2007 75.51 7.65 6.19 8.84 1.78
2008 78.82 7.64 5.68 6.26 1.57
2009 77.64 6.70 5.95 7.52 2.17
  Earners 65-69
1980 54.33 8.52 20.18 15.74 1.21
1981 55.69 8.34 20.08 14.81 1.04
1982 54.59 8.83 20.62 14.91 1.03
1983 52.55 10.38 21.67 14.57 0.81
1984 51.94 9.79 20.66 16.90 0.68
1985 51.61 9.80 21.26 16.18 1.13
1986 53.39 10.42 18.87 16.23 1.07
1987 53.64 11.73 18.30 14.96 1.35
1988 52.84 11.29 18.35 16.30 1.20
1989 54.43 10.48 16.61 17.08 1.38
1990 54.02 11.47 17.69 15.17 1.62
1991 52.95 11.21 18.68 15.84 1.30
1992 53.91 11.04 18.76 14.59 1.68
1993 54.35 11.20 18.43 13.80 2.20
1994 54.96 11.85 19.80 11.65 1.71
1995 57.87 10.05 18.28 11.95 1.82
1996 58.21 10.59 18.47 11.05 1.65
1997 56.10 10.71 17.71 14.10 1.35
1998 56.41 11.06 17.72 13.41 1.38
1999 56.46 9.34 16.89 15.81 1.47
2000 56.66 9.64 19.25 12.88 1.54
2001 57.45 9.66 19.11 12.47 1.28
2002 63.76 8.62 18.96 7.44 1.19
2003 59.79 10.33 19.52 9.07 1.26
2004 61.10 9.46 18.70 9.43 1.28
2005 65.46 7.42 17.48 8.28 1.33
2006 63.83 8.46 17.34 9.38 0.98
2007 62.29 8.71 15.82 12.09 1.07
2008 64.48 8.81 16.50 8.85 1.34
2009 63.10 9.25 17.79 8.16 1.68
  Earners 70–74
1980 45.16 8.27 28.73 17.01 0.81
1981 41.46 8.26 28.17 21.20 0.89
1982 41.29 7.88 26.58 23.52 0.71
1983 37.78 8.61 31.91 20.69 0.99
1984 35.41 9.27 30.39 24.03 0.87
1985 42.02 8.31 30.98 17.90 0.76
1986 40.06 9.92 26.82 22.23 0.95
1987 43.93 10.44 26.98 17.17 1.46
1988 40.32 11.93 28.09 18.52 1.11
1989 42.45 10.05 26.96 19.32 1.20
1990 40.75 12.01 25.22 20.49 1.50
1991 43.87 12.95 24.57 17.62 0.97
1992 45.68 12.38 25.12 14.94 1.86
1993 43.54 14.20 25.90 14.41 1.93
1994 44.31 13.68 28.39 11.51 2.09
1995 44.03 14.29 25.37 14.59 1.70
1996 46.15 10.26 27.98 14.33 1.26
1997 44.82 13.03 26.24 14.33 1.55
1998 45.65 13.88 24.22 14.92 1.31
1999 47.80 10.49 23.26 17.40 1.03
2000 47.31 11.49 24.56 15.23 1.38
2001 50.35 10.38 24.48 13.44 1.33
2002 53.10 9.65 25.50 10.28 1.45
2003 54.56 11.28 23.05 9.70 1.39
2004 55.60 10.84 23.30 8.75 1.48
2005 56.06 10.23 22.98 9.52 1.19
2006 53.58 10.93 23.95 10.11 1.41
2007 52.58 10.37 21.85 14.02 1.15
2008 55.07 9.60 23.14 10.62 1.55
2009 56.90 10.17 22.57 8.64 1.70
  Earners 75–79
1980 40.00 7.47 29.70 21.88 0.93
1981 40.28 6.80 32.33 19.62 0.96
1982 32.06 6.54 32.54 28.05 0.77
1983 36.65 6.08 32.91 23.75 0.59
1984 36.49 7.41 33.03 22.72 0.31
1985 37.74 8.68 32.49 20.51 0.55
1986 33.90 10.28 33.62 21.32 0.86
1987 38.51 10.39 30.34 19.57 1.17
1988 41.22 10.51 26.73 20.72 0.80
1989 41.32 8.41 30.16 18.46 1.62
1990 38.14 11.88 29.47 18.95 1.53
1991 42.12 9.50 28.97 18.42 0.96
1992 38.81 13.25 28.83 17.82 1.26
1993 36.38 13.99 30.66 17.84 1.11
1994 38.71 9.23 30.17 19.53 2.33
1995 41.39 9.98 32.73 14.94 0.94
1996 46.37 8.16 28.35 16.07 1.03
1997 44.45 10.58 26.89 16.23 1.83
1998 39.83 12.70 24.89 19.92 2.64
1999 43.35 12.83 27.07 14.25 2.48
2000 49.13 9.85 24.55 15.27 1.17
2001 46.31 10.93 27.14 14.48 1.12
2002 49.78 10.36 25.03 12.37 2.44
2003 52.27 9.84 25.96 10.44 1.47
2004 50.96 10.94 25.91 10.90 1.27
2005 52.23 9.82 26.06 10.39 1.49
2006 50.65 9.67 26.28 11.79 1.59
2007 48.86 9.01 24.32 16.29 1.49
2008 44.44 12.51 27.81 13.27 1.95
2009 54.79 8.34 26.09 9.57 1.19
SOURCE: Authors' calculations using CPS ASEC data.
NOTE: Zero-earners are included if they meet the age requirement and have a spouse who reports earnings.
Table equivalent for Chart 5. Distribution of total money income by source, all persons aged 62–79 who receive Social Security benefits by age group, 1980–2009
Year Earnings Pension benefits Social Security Asset income Other income
  Beneficiaries 62–64
1980 31.08 17.20 31.54 16.98 3.18
1981 29.23 15.87 33.33 18.08 3.47
1982 27.74 16.05 34.04 18.98 3.17
1983 27.72 19.47 31.85 17.39 3.54
1984 26.68 18.61 32.28 19.50 2.91
1985 27.97 17.78 30.37 20.74 3.13
1986 28.36 19.54 30.23 19.05 2.80
1987 28.70 20.94 28.89 17.82 3.63
1988 27.74 22.51 29.56 17.00 3.17
1989 29.41 20.56 27.83 18.32 3.85
1990 27.68 23.71 27.91 17.25 3.43
1991 28.95 21.47 29.15 16.90 3.51
1992 28.38 21.62 30.49 14.98 4.50
1993 30.50 21.15 31.48 12.67 4.17
1994 31.54 21.61 31.67 11.82 3.34
1995 29.83 21.56 29.92 14.78 3.89
1996 31.30 21.02 31.09 13.31 3.26
1997 30.42 20.00 31.09 15.08 3.39
1998 31.18 21.45 31.13 12.97 3.24
1999 33.18 21.78 27.20 14.64 3.17
2000 35.11 18.42 29.23 14.36 2.86
2001 35.24 18.65 29.95 13.10 3.04
2002 34.91 20.07 31.24 9.67 4.08
2003 34.94 20.07 31.09 10.90 2.98
2004 38.78 17.54 29.52 10.84 3.30
2005 35.74 19.07 30.93 10.71 3.53
2006 36.28 18.43 29.99 12.06 3.22
2007 35.51 18.64 29.38 13.59 2.86
2008 36.93 18.79 30.86 10.03 3.37
2009 37.52 18.55 31.29 8.66 3.96
  Beneficiaries 65-69
1980 20.58 15.89 39.79 21.29 2.42
1981 20.29 15.20 40.20 21.89 2.40
1982 19.23 15.83 40.21 22.56 2.14
1983 17.50 17.19 41.56 21.54 2.18
1984 17.22 16.35 38.89 25.08 2.44
1985 17.12 17.17 38.93 24.14 2.61
1986 17.83 18.28 37.26 24.07 2.54
1987 19.47 20.83 36.43 20.21 3.03
1988 19.63 20.35 35.87 21.53 2.59
1989 21.05 20.19 33.76 22.34 2.64
1990 19.52 20.66 34.97 21.99 2.84
1991 18.93 20.75 36.19 21.19 2.90
1992 20.90 21.12 36.26 18.96 2.73
1993 21.34 20.65 36.66 17.77 3.56
1994 22.36 20.02 38.84 15.63 3.13
1995 23.22 18.90 37.91 16.95 2.99
1996 23.55 19.85 37.50 16.37 2.71
1997 23.59 19.53 36.18 18.25 2.42
1998 25.92 18.83 35.02 17.87 2.33
1999 23.87 19.19 34.76 19.59 2.57
2000 29.24 17.21 34.72 16.16 2.65
2001 30.78 17.42 34.63 14.91 2.23
2002 33.62 17.61 35.75 10.71 2.29
2003 32.35 18.12 35.21 12.22 2.07
2004 32.58 18.34 34.75 12.01 2.29
2005 34.17 16.17 35.08 12.20 2.35
2006 32.94 16.68 35.02 13.36 1.98
2007 31.57 17.05 34.09 15.22 2.04
2008 33.15 17.96 35.40 11.36 2.11
2009 33.35 16.85 37.03 10.05 2.70
  Beneficiaries 70–74
1980 12.25 14.35 47.25 23.69 2.44
1981 9.86 14.76 46.80 26.45 2.11
1982 10.92 14.25 46.04 26.87 1.88
1983 10.27 14.20 46.26 26.80 2.45
1984 10.25 14.09 42.85 30.38 2.40
1985 11.60 14.65 45.38 26.36 1.99
1986 11.28 15.16 43.46 28.16 1.92
1987 12.38 16.76 42.18 26.28 2.38
1988 11.94 17.60 42.49 25.59 2.36
1989 11.87 17.47 42.07 26.21 2.35
1990 12.67 18.27 40.41 25.98 2.63
1991 12.89 19.83 41.42 22.87 2.96
1992 13.06 20.80 43.02 20.26 2.83
1993 12.85 22.10 43.64 17.74 3.63
1994 13.43 21.04 45.20 17.12 3.19
1995 14.84 19.73 43.87 18.33 3.22
1996 15.15 20.67 43.36 18.38 2.41
1997 12.49 20.99 43.03 20.77 2.69
1998 16.14 20.96 41.06 19.26 2.55
1999 17.40 19.23 41.07 19.95 2.32
2000 17.83 19.50 43.05 17.11 2.48
2001 16.85 19.64 43.09 17.90 2.50
2002 18.47 20.05 44.72 14.07 2.66
2003 19.91 20.34 42.09 15.50 2.14
2004 22.85 20.58 41.74 12.38 2.42
2005 22.50 20.06 41.17 13.82 2.43
2006 20.97 19.43 42.25 15.01 2.32
2007 21.21 18.76 41.68 16.44 1.88
2008 23.75 18.69 41.93 13.47 2.13
2009 24.68 18.55 43.12 11.45 2.17
  Beneficiaries 75–79
1980 7.82 12.70 49.79 26.56 3.11
1981 6.38 12.96 50.23 28.36 2.05
1982 5.38 12.12 49.60 30.66 2.22
1983 6.29 12.88 49.35 29.30 2.16
1984 5.89 12.40 47.72 32.07 1.89
1985 5.70 12.94 48.50 30.95 1.88
1986 4.85 14.44 49.38 28.97 2.34
1987 7.28 15.51 47.13 27.84 2.21
1988 8.07 14.90 46.28 28.45 2.27
1989 7.21 14.78 46.40 29.05 2.54
1990 7.10 16.62 46.67 27.33 2.25
1991 6.94 17.19 47.21 26.26 2.38
1992 6.54 18.99 49.43 22.61 2.41
1993 8.06 20.08 48.71 20.61 2.52
1994 8.29 18.46 48.85 21.18 3.20
1995 8.33 18.09 50.09 20.61 2.85
1996 9.09 17.40 50.77 19.94 2.78
1997 9.44 19.29 47.24 21.27 2.74
1998 6.63 19.83 46.73 23.23 3.55
1999 8.97 20.82 45.66 21.43 3.09
2000 10.51 19.18 47.93 19.67 2.68
2001 9.58 19.91 48.67 18.27 3.54
2002 10.74 20.17 48.13 17.55 3.39
2003 11.95 20.83 49.44 14.69 3.07
2004 11.83 21.40 50.42 14.08 2.24
2005 13.98 20.77 47.72 14.98 2.52
2006 13.47 18.90 47.42 17.27 2.92
2007 12.30 19.73 47.76 17.50 2.68
2008 11.50 20.98 48.75 16.21 2.53
2009 15.72 19.30 49.25 13.00 2.70
SOURCE: Authors' calculations using CPS ASEC data.
NOTE: Nonbeneficiaries are included if they meet the age requirement and have a spouse who receives Social Security benefits.
Table equivalent for Chart 6. Distribution of total money income by source, all persons aged 65 or older by income quintile, 1980–2009
Year Earnings Pension benefits Social Security Asset income Other income
  Quintile 1 (lowest)
1980 1.38 1.89 78.77 4.01 13.92
1981 0.64 1.95 81.48 3.91 12.00
1982 0.83 2.29 81.23 3.90 11.72
1983 1.11 2.19 79.46 4.04 13.17
1984 1.06 1.97 79.40 4.53 13.02
1985 0.76 2.24 80.51 3.85 12.62
1986 1.10 2.63 80.65 4.05 11.55
1987 1.43 3.24 80.56 4.36 10.38
1988 0.77 3.45 81.28 4.39 10.09
1989 1.35 4.00 79.66 4.26 10.71
1990 1.54 3.67 80.34 4.66 9.76
1991 1.45 3.66 78.97 4.03 11.87
1992 0.92 3.13 81.52 3.35 11.06
1993 1.30 3.26 81.29 3.46 10.67
1994 0.48 3.51 82.70 3.04 10.25
1995 1.64 3.16 82.73 3.49 8.95
1996 1.50 2.83 82.23 2.94 10.47
1997 1.47 3.24 81.85 3.20 10.22
1998 1.41 3.51 83.69 2.87 8.49
1999 1.02 3.48 83.83 2.63 9.02
2000 1.81 3.18 83.86 3.19 7.92
2001 2.01 3.52 84.27 2.83 7.35
2002 1.62 3.64 84.40 2.35 7.96
2003 1.72 3.27 84.58 1.99 8.41
2004 1.63 3.83 84.50 2.33 7.68
2005 1.94 4.25 84.48 1.95 7.35
2006 2.15 4.39 83.56 3.09 6.79
2007 2.33 3.65 83.94 2.27 7.79
2008 2.18 3.89 84.54 2.03 7.33
2009 3.03 3.34 83.86 2.30 7.45
  Quintile 2
1980 4.97 7.51 73.08 9.49 4.93
1981 4.65 7.14 74.37 9.11 4.70
1982 4.45 6.84 74.66 9.99 4.03
1983 3.73 7.51 74.77 9.24 4.73
1984 4.04 9.03 72.31 10.29 4.31
1985 3.75 8.64 73.15 10.21 4.23
1986 3.57 8.55 73.93 10.25 3.67
1987 4.43 11.45 69.08 11.29 3.74
1988 5.08 11.40 69.74 9.81 3.93
1989 4.29 11.00 69.80 10.18 4.70
1990 4.54 11.81 69.73 10.03 3.86
1991 4.24 12.01 70.22 9.50 4.01
1992 4.28 11.87 72.36 7.87 3.60
1993 3.64 10.56 74.75 7.59 3.44
1994 3.71 9.08 77.54 6.80 2.85
1995 3.56 8.96 77.43 7.51 2.50
1996 4.06 9.27 77.09 6.54 3.02
1997 3.78 9.26 77.42 6.88 2.63
1998 4.08 10.07 75.56 7.50 2.77
1999 4.34 11.02 75.06 6.88 2.68
2000 3.67 10.30 76.56 6.31 3.14
2001 3.65 10.00 76.90 6.57 2.86
2002 4.28 10.84 76.77 5.18 2.90
2003 4.42 10.73 77.94 4.77 2.12
2004 4.15 11.08 77.13 4.98 2.63
2005 4.90 11.31 76.06 5.28 2.43
2006 5.67 12.57 73.24 6.16 2.34
2007 5.92 11.89 74.67 5.33 2.16
2008 6.50 11.23 75.03 4.67 2.55
2009 5.73 10.96 76.62 4.31 2.37
  Quintile 3
1980 11.91 17.11 50.18 18.22 2.56
1981 11.01 16.24 51.47 19.22 2.03
1982 10.48 15.22 52.28 19.75 2.23
1983 9.81 16.97 52.02 19.03 2.14
1984 9.25 17.31 50.84 20.68 1.89
1985 9.47 17.54 51.18 19.76 2.02
1986 8.95 18.99 50.39 19.81 1.83
1987 9.46 20.28 48.21 19.54 2.49
1988 9.04 20.91 48.77 18.76 2.50
1989 9.26 20.79 48.49 19.16 2.27
1990 9.75 21.88 47.41 18.39 2.55
1991 9.11 22.44 49.24 16.53 2.65
1992 8.02 22.89 52.20 14.17 2.69
1993 8.68 22.97 52.53 12.54 3.27
1994 8.07 21.14 54.99 12.81 2.96
1995 8.18 21.57 53.07 14.11 3.05
1996 8.56 21.95 54.45 12.58 2.44
1997 8.90 22.75 52.59 12.54 3.19
1998 9.51 22.68 51.22 13.17 3.41
1999 9.38 24.04 51.11 12.40 3.05
2000 9.70 23.92 52.02 11.67 2.66
2001 11.21 22.35 51.76 11.67 2.98
2002 11.46 24.12 52.19 9.01 3.20
2003 11.97 25.64 50.71 8.49 3.17
2004 12.48 25.24 51.23 8.00 3.03
2005 13.09 26.26 49.17 8.65 2.80
2006 14.16 23.73 48.81 10.35 2.92
2007 15.64 24.52 47.73 8.77 3.31
2008 14.50 25.87 48.33 8.12 3.16
2009 14.10 25.00 50.28 7.20 3.40
  Quintile 4
1980 20.54 20.07 31.13 26.26 1.98
1981 18.40 19.46 32.35 27.81 1.96
1982 16.90 19.05 34.31 28.23 1.50
1983 15.82 20.61 34.30 27.78 1.46
1984 15.35 19.56 31.97 31.72 1.39
1985 15.66 19.72 33.52 29.49 1.58
1986 15.86 20.53 32.85 28.73 2.00
1987 16.08 23.07 30.86 27.86 2.12
1988 16.60 23.01 30.37 27.80 2.19
1989 16.20 24.59 29.97 27.09 2.12
1990 14.80 25.31 31.48 25.88 2.50
1991 13.57 27.55 32.62 23.56 2.68
1992 15.00 27.92 33.59 21.00 2.47
1993 14.94 28.48 34.76 18.55 3.25
1994 15.41 28.12 35.37 18.69 2.39
1995 17.28 26.59 34.46 18.61 3.05
1996 16.57 26.89 34.64 18.69 3.19
1997 16.51 27.70 33.35 19.52 2.90
1998 18.63 28.45 32.13 17.90 2.86
1999 18.80 27.71 31.94 18.28 3.24
2000 20.23 27.82 33.19 15.78 2.96
2001 21.51 27.89 32.19 15.09 3.29
2002 23.11 27.85 31.87 13.67 3.47
2003 24.44 29.06 31.06 12.78 2.64
2004 24.02 30.10 31.60 11.42 2.84
2005 24.28 28.53 30.67 12.77 3.73
2006 26.96 25.67 30.48 13.90 2.96
2007 28.04 25.58 29.40 14.00 2.96
2008 28.27 27.15 30.72 11.09 2.75
2009 26.52 26.37 33.62 10.09 3.37
  Quintile 5 (highest)
1980 31.23 16.49 13.36 37.68 1.22
1981 29.81 15.78 12.93 40.67 0.78
1982 28.30 16.15 13.91 40.88 0.74
1983 26.10 16.65 15.24 40.82 1.17
1984 23.71 14.79 14.93 45.23 1.32
1985 25.36 15.69 14.70 43.02 1.19
1986 26.59 16.01 14.52 41.48 1.36
1987 29.11 18.31 14.37 36.42 1.76
1988 28.16 18.51 14.42 37.39 1.48
1989 29.64 16.33 13.58 38.78 1.66
1990 27.97 17.64 13.88 38.75 1.74
1991 28.81 18.49 14.18 36.53 1.96
1992 30.29 20.01 14.10 33.74 1.84
1993 31.99 19.99 15.52 29.43 3.05
1994 31.48 20.14 18.03 26.99 3.34
1995 33.61 18.70 16.13 28.82 2.71
1996 34.04 19.22 16.03 28.85 1.84
1997 31.31 18.11 15.13 33.61 1.81
1998 30.66 19.05 14.63 33.66 1.97
1999 34.77 17.28 13.43 32.84 1.65
2000 36.58 16.25 15.34 29.58 2.22
2001 35.31 18.67 15.08 28.69 2.23
2002 40.92 18.32 14.85 23.74 2.14
2003 40.50 18.43 14.44 24.67 1.93
2004 43.89 18.51 13.86 22.14 1.58
2005 45.76 16.01 13.10 22.98 2.12
2006 42.74 16.73 13.24 25.41 1.85
2007 43.29 15.50 12.58 26.99 1.61
2008 45.35 16.84 14.03 22.16 1.60
2009 46.76 17.15 15.45 18.53 2.08
SOURCE: Authors' calculations using CPS ASEC data.
Table equivalent for Chart 7. Percentage of persons aged 65 or older who would belong in lower total money income quintiles if their earnings were eliminated, total and for those with earnings, by sex, 1980–2009
Year Eliminating earnings would lower the person—
1 or more quintiles 2 or more quintiles
  All men 65 or older
1980 14.90 6.59
1981 14.43 6.34
1982 13.52 6.01
1983 12.16 5.41
1984 12.04 4.80
1985 12.61 5.15
1986 12.07 5.46
1987 12.89 5.33
1988 13.17 5.04
1989 12.90 5.29
1990 12.45 5.13
1991 12.28 5.08
1992 11.87 4.79
1993 12.19 5.19
1994 12.32 5.30
1995 12.78 5.52
1996 12.74 4.99
1997 11.88 5.03
1998 11.76 4.41
1999 12.74 5.60
2000 13.77 5.94
2001 13.78 5.83
2002 14.24 6.76
2003 13.91 6.58
2004 14.46 6.88
2005 14.96 6.78
2006 15.51 7.55
2007 16.31 8.07
2008 16.89 7.90
2009 16.35 8.19
  All women 65 or older
1980 6.19 2.48
1981 6.01 2.40
1982 5.58 1.91
1983 5.73 2.13
1984 5.24 1.76
1985 5.19 1.95
1986 5.13 1.95
1987 5.78 2.60
1988 6.24 2.44
1989 6.55 2.60
1990 6.26 2.54
1991 6.12 2.45
1992 5.85 2.48
1993 6.21 2.43
1994 5.87 2.36
1995 5.92 2.70
1996 6.45 2.65
1997 6.68 2.50
1998 6.56 2.63
1999 6.98 2.70
2000 6.60 2.84
2001 7.12 3.15
2002 7.80 3.34
2003 8.59 3.75
2004 8.53 3.96
2005 8.32 3.64
2006 9.26 4.15
2007 9.37 4.11
2008 9.50 4.37
2009 10.02 4.62
  Men 65 or older with earnings
1980 60.83 26.90
1981 60.23 26.44
1982 57.96 25.75
1983 55.99 24.89
1984 56.53 22.54
1985 58.10 23.75
1986 57.61 26.03
1987 58.54 24.20
1988 58.27 22.29
1989 58.12 23.85
1990 57.87 23.85
1991 57.92 23.96
1992 59.46 24.00
1993 58.41 24.86
1994 60.30 25.94
1995 59.28 25.61
1996 60.36 23.66
1997 59.45 25.14
1998 56.66 21.26
1999 56.63 24.88
2000 61.09 26.34
2001 63.97 27.05
2002 66.11 31.40
2003 63.38 29.99
2004 63.93 30.44
2005 65.09 29.52
2006 64.73 31.52
2007 65.93 32.61
2008 66.32 31.02
2009 66.53 33.31
  Women 65 or older with earnings
1980 57.73 23.13
1981 58.70 23.40
1982 54.61 18.70
1983 56.19 20.85
1984 50.90 17.08
1985 53.27 19.99
1986 52.56 19.97
1987 53.90 24.25
1988 55.78 21.77
1989 56.14 22.26
1990 51.87 21.05
1991 56.46 22.65
1992 55.18 23.37
1993 53.14 20.80
1994 53.52 21.55
1995 52.08 23.78
1996 56.29 23.09
1997 56.98 21.35
1998 54.91 21.98
1999 56.91 21.98
2000 54.38 23.41
2001 59.33 26.27
2002 62.18 26.62
2003 62.27 27.21
2004 60.65 28.13
2005 61.91 27.11
2006 63.14 28.29
2007 60.10 26.39
2008 59.97 27.60
2009 63.79 29.41
SOURCE: Authors' calculations using CPS ASEC data.