Friday, May 7, 2010

Income of the Population 55 or Older

This recently released biennial report from the Social Security Administration reveals the dependence of America's older generations on Social Security benefits. The report details the type and amount of income received by people aged 55 or older in 2008, examining economic status by a variety of demographic characteristics. One of the findings: Social Security accounts for fully 58 percent of the income received by people aged 65 or older. Private pensions account for only 8 percent.

description from the American Consumers Newsletter.

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