Over the past 25 years, changes in public and private policies have profoundly altered the retirement landscape that current and future generations of older adults face. Gone is the three-legged stool of Social Security, pension and retirement savings. The age of eligibility for Social Security has gradually increased, and future benefits may offer lower lifetime value due to financial demands on the system. On the private side, individual workers have seen changes in defined benefit pensions and health benefits in retirement, to be replaced by an opportunity to save and invest in individual employer sponsored retirement plans, such as 401(k) plans. Such plans generally rely upon individuals choosing to opt into them, and the value of many, among other things, rests upon the willingness and ability to save and the performance of financial markets.

The leading edge of the Baby Boomer generation turned 60 in 2006, and over the next several decades millions of Boomers will enter retirement with more education, greater experience with technology, and higher expectations for their lifestyles and activies after they retire.

In spite of these changes in the retirement system and people’s increased expectations, relatively few people plan or save adequately for their retirement. The overall goal of this research project is designed to understand better the different paths people take toward planning and preparing for retirement.

The population for this survey is adults ages 45 to 74 who have worked for pay outside of the home, and who either are eligible for a pension or have saved money individually for retirement.

This national survey is sponsored by the MIT AgeLab and is being conducted by Macro International in November and December 2007. The MIT AgeLab website will post results from the survey when available in 2008.

For questions or further information about this study, please contact Lisa D'Ambrosio .