Older adults in the US may be making nearly one-third more, on average, than commonly thought, according to an important new study by two US Census Bureau researchers. And the importance of Social Security to many older adults may also have been overstated. Measuring incomeThe study also finds that an often-quoted statistic about the important of Social Security may be overstated. It is often said that one-third of Social Security recipients receive at least 90 percent of their income from the program. For some time, Census officials and outside experts have been concerned that older adults underreport their income, especially from retirement plans.

Source: Forbes August 30, 2017 15:22 UTC