Browse Publications: Social Policy
Between 1997 and 2005, numerous polls were conducted to assess the views of the U.S. population about savings behavior, expected sources of retirement income, and the status of the Social Security system. This report examines findings from these polls for African Americans, white Americans, and persons of all races (combined) and makes comparisons across racial/ethnic groups as data allow. The vast majority of these polls surveyed the general population, without disaggregation by race. For example, 38 polls of persons of all races (combined) conducted between 1999 and 2005 were identified that included a question about optional stock market investment by individuals to foster the solvency of the Social Security system. However, only four polls (two by the Joint Center for Political and Economic Studies, one by AARP, and a survey series by Ariel Mutual Funds/Charles Schwab & Company, Inc.) were identified that surveyed either African Americans alone or African Americans along with other racial groups about this issue. As a result, racial comparisons cannot be made for all issues.
African Americans and Social Security Disability Insurance
The Old Age, Survivors, and Disability (OASDI) program of the Social Security Administration helps meet the needs of persons who have retired (Old Age), dependents of persons who are deceased (Survivors), and persons who have become disabled, as well as their dependents (Disability). Although the Social Security system consists of these three components, when system reforms are discussed, the emphasis primarily is on retirement benefits. In recent years, however, national attention has been drawn to the SSDI, or disability, program. The number of applicants for SSDI has increased due to an expansion of the classes of disabilities that could qualify an individual for benefits and to the numerous claims being filed by veterans of recent wars, such as the War in Iraq.
Social Security and Wealth: Fact Sheet About African Americans by Income Group
Income is the personal characteristic most often thought to be associated with differences in knowledge, expectations, and opinions about Social Security and wealth. For example, one would hypothesize that individuals with low incomes would be more likely than those with high incomes to (1) expect Social Security to be their major source of retirement income, (2) be less likely to own stocks or mutual fund shares, and (3) be renters rather than homeowners. Some of these hypotheses are based on income alone, but others are based on the almost axiomatic relationship between education and income—i.e., that persons with more education have higher incomes than those with less education. e income-education relationship also supports further speculation, such as the hypothesis that individuals with higher incomes would be more likely than those with lower incomes to know details about Social Security (e.g., eligibility ages for receiving partial and full retirement benefits).