How does media coverage of Social Security affect worker behavior?

Quinby, Laura D., and Gal Wettstein. “How does media coverage of Social Security affect worker behavior?”. Issue in Brief 21-17, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, October 2021. http://hdl.handle.net/2345/bc-ir:109307.
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Abstract

The brief's key findings are: (1) Social Security's trust fund is projected to deplete its reserves in 2034, after which ongoing revenues will cover only about three-quarters of scheduled benefits. (2) News coverage tends to emphasize the depletion date over the ongoing tax revenues, often with alarming headlines. (3) To gauge how such coverage could affect worker behavior, this study used an online experiment that showed different headlines to different groups. (4) Participants responded to headlines on trust fund depletion by reducing their intended claiming age, with no change in their intended savings rate. (5) If workers follow through with such intentions, claiming early would lock in lower monthly benefits without increased saving to make up the gap.

Title
How does media coverage of Social Security affect worker behavior?
Author
Quinby, Laura D.
Wettstein, Gal
Center
Center for Retirement Research
Genre
report
Date Issued
October 2021
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
21-17
Persistent Link
http://hdl.handle.net/2345/bc-ir:109307
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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