How Do Trends in Women's Labor Force Activity and Marriage Patterns Affect Social Security Replacement Rates?

by April Yanyuan Wu, Nadia S. Karamcheva, Alicia H. Munnell, and Patrick J. Purcell
Social Security Bulletin, Vol. 73 No. 4, 2013
Table equivalent for Chart 1. Labor force participation rates for all and married women aged 25–34, by birth cohort (in percent)
Cohort All Married
DE1 36.73 33.63
DE2 43.60 41.37
War baby 53.58 49.71
EBB 64.42 61.17
MBB 69.56 67.51
LBB 71.90 69.45
Gen X 72.97 69.73
SOURCE: Authors' calculations based on MINT.
NOTE: “Labor force participation” is defined as having positive earnings during the year.
Table equivalent for Chart 2. Median ratio of wife's AIME to husband's AIME, by birth cohort
Cohort Percent
DE1 29.89
DE2 34.19
War baby 45.11
EBB 55.83
MBB 58.93
LBB 60.40
Gen X 68.04
SOURCE: Authors' calculations based on MINT.
NOTE: Ratios are projected for three youngest cohorts.
Table equivalent for Chart 3. Percentage of women who are married, by age group and birth cohort
Cohort 25–34 55–64
DE1 83.45 68.92
DE2 79.90 68.44
War baby 75.33 63.95
EBB 67.48 61.40
MBB 63.40 58.27
LBB 59.16 55.79
Gen X 59.10 56.14
SOURCE: Authors' calculations based on MINT.
NOTE: Percentages for women aged 55–64 in three youngest cohorts are projected.
Table equivalent for Chart 4. Legislated changes in FRA and in early eligibility (age 62) retirement benefit as a percentage of full retirement benefit, by birth year
Birth year FRA (years) Age-62 benefit (%)
1931 65 80
1932 65 80
1933 65 80
1934 65 80
1935 65 80
1936 65 80
1937 65 80
1938 65.17 79.17
1939 65.33 78.33
1940 65.5 77.5
1941 65.67 76.67
1942 65.83 75.83
1943 66 75
1944 66 75
1945 66 75
1946 66 75
1947 66 75
1948 66 75
1949 66 75
1950 66 75
1951 66 75
1952 66 75
1953 66 75
1954 66 75
1955 66.17 74.17
1956 66.33 73.33
1957 66.5 72.5
1958 66.67 71.67
1959 66.83 70.83
1960 67 70
1961 67 70
1962 67 70
1963 67 70
1964 67 70
1965 67 70
1966 67 70
1967 67 70
1968 67 70
1969 67 70
1970 67 70
1971 67 70
1972 67 70
1973 67 70
1974 67 70
1975 67 70
SOURCE: Social Security Act, as amended.