Sociology of Aging - Exam 3
The total value of older adult's voluntary contributions to society is equal to about ____ million workers, and 7 million caregivers.
12
According to the textbook, the average retirement benefit for a single individual in 2012 was around:
15,000/year
The standard 40-hour work week was introduced in:
1945
The "Baby Boomer" generation refers to people born between which years?
1946-1964
Females have longer life expectancy than males, but this gap is steadily decreasing since its peak in _________
1970
Although Inmates 50+ only make up 5.31% of the federal inmate population, they account for nearly ____ percent of its costs.
20
In _________, the oldest of the boomers turned 65.
2011
The oldest boomers turned age 65 and became eligible for Medicare beginning in ________
2011
Almost _________ percent of Social Security beneficiaries are disabled/young survivors
25
Example of a defined contribution plan
401K
Consumers over age ____ are the new customer majority.
45
If Social Security benefits were to no longer exist, it is estimated that the poverty rate of older adults would increase to approximately _____________ percent
45
Only ___ percent of older adults have access to a private pension.
45
What percentage of her husband's Social Security retirement benefits is a married woman eligible for, while he is still alive?
50
Age range of pre-retirees
55-64
After what age are the vast majority of men and women retired from work?
65
Age range of youngest old
65-74
The 50+ segment of the U.S. population controls what percentage of the total net worth and financial assets of the country?
75
________ percent of older people are engaged in unpaid work such as housework or volunteer roles
75
Age range of the old old
75-84
Now, our dependency ratio is fairly low 57:100, but projected to grow to _______ by 2050.
75:100
Approximately how many babies were born during the "Baby Boom" generation?
77 million
People ages ___ and over use the most Medicare dollars
85
Age range of the oldest old
85 and older
_ out of 10 older adults rely on Social Security for some portion of their income.
9
n 1959 35% of older adults lived below the federal poverty line, in 2011 only ___ percent
9
Today about ____ percent of eligible workers participate in some type of retirement contribution plan
90
The most prominent age-based movement in the U.S. today is:
AARP
The more you earn, the more ________ money you put into Social Security
Absolute
Some critics believe that the declining well-being of children, coupled with the increases in economic support for older adults, have been the result of:
Adult voting power
The group is least likely to be admitted to nursing home
African American
Forbids older workers from being limited or treated in any way that would harm their employment possibilities
Age Discrimination Act (1967)
The 20th century could well be called:
Age of Retirement
Which model allows us to look at factors that will influence members of cohorts?
Age-Period-Cohort
Stereotyping and discrimination based on age.
Ageism
Stereotyping or discrimination that is based on age is called:
Ageism
Chronological age effects
Aging effects
Individuals are affected by ______, __________, and ___________effects.
Aging, Period, Cohort
Who wrote, "Boomsday" where boomers are bankrupting the country, and Social Security has run out?
Christopher Buckley
A group of people who experienced specific historical events such as World War II or the Great Depression are referred to as a:
Cohort
Effects associated with events affecting groups of people during the same years are called:
Cohort effects
Events that affect groups of people of a certain age.
Cohort effects
After World War II and until the mid 1990s there was a consistent _______ in labor force participation with advancing age in the United States.
Decline
After the point of retirement, income tends to ___________
Decline
_____________ child dependency ratio, and _________ aging dependency ratio
Declining, Rising
Promises a specific or defined amount of pension income for the remainder of life
Defined-benefit plan
Employers/employees contribute money but the amount of pension income depends on how much is contributed to the fund over the years
Defined-contribution plan
A numerical measure of the economic burden imposed on members of the working population who must ultimately support people who are not in the labor force is known as
Dependency ratio
Numeric measure of the economic burden imposed on members of the working population
Dependency ratio
Which method of training allows trainees to discover for themselves how to carry out a task to be learned?
Discovery method
Trainees discover for themselves how to carry out a task to be learned
Discovery method of training
An older person who is simultaneously a member of two (or more) disadvantaged groups faces a challenge known as
Double jeopardy
Occupying two or more disadvantaged groups leads to cumulative disadvantage in later-life
Double jeopardy
For organizations, corporate __________ often means a loss of older employees' experience and skills
Downsizing
By the 1990's, the trend toward __________ retirement had stopped and begun to reverse.
Early
(Gender) More likely to experience chronic illnesses, arthritis, diabetes etc.
Females
Investing part or all of the Trust Fund in private savings vehicles, such as the stock market (6%-6.8% growth, versus the 3% earned by Treasury bonds).
Funded system
Group of people born in a certain time period
Generation
The term _______ can refer to either a specific age group or a group of people born in the same year or in a certain period.
Generation
Different generations should be treated in similar ways and should have similar opportunities
Generational equity
Social security is an agreement between ____________
Generations
Leading killer of BOTH men and women
Heart disease
There is a large amount of _______ among members of the "Baby Boomer" generation.
Heterogenity
Funding required for pensions and retirement systems, and loss of accumulated skills and talents
Hidden retirement costs
For older people, the poverty rate is __________ than for any other adult age group.
Higher
International comparison shows that U.S. poverty rates among children are _______ than those of all other industrialized nations.
Higher
live longer than whites despite lower SES
Hispanic paradox
This group has higher cognitive impairment in old age
Hispanics
Usually the biggest asset of older adults
Home
It's important to remember that people only have an individual choice about retiring if they can count on enough ______ to support themselves without working.
Income
The amount of available money or its equivalent purchasing power is called:
Income
As the baby boomers grow older, the old-age dependency ratio is projected to __________
Increase
The 2013 poverty rate _______ with age among people ages 65 and older
Increased
In the past two decades, the labor force participation of adults 65 and older has increased, primarily because of:
Increased women's labor force participation
You receive funds proportionate to what you contribute
Individual equity
Principles used in assignment of Social Security benefits
Individual equity, Social adequacy
Widespread retirement by workers only became possible after the _______________ of the 19th century
Industrial Revolution
Prisons don't have the proper ____________ with functional limitations.
Infrastructure
Who wrote, "The long Baby Boom." Promotes the idea that Boomers will work longer and therefore put less strain on the economy?"
Jeff Goldsmith
Older women take care of, and keep up networks, with kin/family
Kinkeeping
Who said older adults are not a needy group. They have too much political power.
Lester Thurow
An important question for researchers is how the private and public retirement systems can take into account gains in _____________ and ____________ of today's older people.
Longevity, Productivity
The Older Americans Act (OAA) has very little to say about targeting the services of aging-networks to help _____ SES and minority elderly.
Low
The threshold for determining poverty status for older adults is ________ than it is for other age groups.
Lower
(Gender) more likely to experience acute and more fatal conditions such as heart disease, cancer, stroke, accidents and pneumonia
Males
Who said, "Public pension program weakens private savings and capital formation?"
Martin Feldstein
Age-based Entitlement Programs
Medicare, Social security
Who wrote, "No Country for Young Men." As boomers grow older, our workforce will shrink. She points to slower economic growth, and that boomers will have to work longer?"
Megan McArdle
Who said that : "greedy geezers" is a new kind of victim blaming that distracts from the real issues of injustice?
Meredith Minkler
Men have a higher ______ rate, while females have a higher ________ rate.
Mortality, Morbidity
Many Older adults have been lifted out of poverty, but still remain precariously perched in __________ category.
Near poor
Retirement is not usually seen as a _______ event.
Negative
The Cornell Study of Occupational Retirement found:
No negative health impact of retirement, No lowering self-worth, Lowering income
Among the ______ boomers there is a proportion who are working part- or full-time and collecting social security benefits.
Oldest
Social Security, a "_____________" system
Pay as you go
Under a _______ system, the money collected from workers each year goes to pay for people who receive benefits in that same year.
Pay-as-you-go
A contractual plan by an employer to provide regular income payments to employees after they have left employment is called a/an:
Pension
Effects that impact all age groups in society at the same time are called:
Period effects
Those affecting all age groups in society (such as 9-11)
Period effects
Who said population aging is an iceberg that is going to sink the ship of America if we don't change course?
Peter Peterson
Who said the political power of older adults has lead to unfair policy that is directed to older adults over children?
Peter Peterson
The potential for retraining
Plasticity
The potential for retraining is called:
Plasticity
The oldest-old tend to be the __________
Poorest-old
How to fix possible Social Security bankruptcy
Progressive tax, Increase Cap, Reduce benefits, Raise minimum age, Add means-testing
Older inmates have less ___________, and are better behaved in prison
Recidivism
By any measure, there has been a dramatic _______ in the official rate of poverty among older Americans in the last three decades.
Reduction
Social security is a ________ tax
Regressive
The fact that a person who earns $20,000 a year pays the same 6.2% tax rate as someone who earns $106,000 a year is called a:
Regressive Tax
Social Adequacy where the lower you earned, the higher the actual ________________ of your Social Security benefit
Replacement rate
The proportion of wages replaced by Social Security at the point of retirement is called the:
Replacement rate
Social Security wage earners are entitled to ________(3)_______
Retirement benefits, Life insurance, Disability insurance
_____ people are more likely to reach old age
Rich
Status without clearly defined purpose or rules of behavior
Role-less role
Variations in experiences in older adulthood
Role-less role, Third age
A status with no clearly defined purpose or rules of behavior is known as a/an:
Roleless Role
Lower ______ over the life course tends to produce cumulative disadvantage, which is perpetuated in later life.
SES
The life cycle model of savings predicts that as baby boomers reach later life:
Save more money
Paradox in baby boomer perception
Selfish versus Idealistic
This is because Social Security assumes as ___________ household
Single-earner
Comprises 39% of older adult income (65+)
Social Security
The public retirement pension system administered by the federal government is called:
Social Security
Social Security is funded by payroll taxes that go into a large account called the:
Social Security Trust Fund
Lower-income retirees receive a larger replacement proportion to compensate for the fact that they are less likely to have private pensions or other assets
Social adequacy
Earnings Sharing Plan
Social security is split evenly across spouses
Sources of retirement incomes
Social security, Private pensions, Individual savings
Currently, Social Security is ______ through 2033
Solvent
A cash benefit program for older adults
Supplemental Security Income
A cash benefit program for the elderly poor, blind, and disabled is:
Supplemental Security Income
Means-tested and is only available if your income and assets fall below a designated level
Supplemental Security Income
Generational accounting analyzes how government policies on ___(2)____ affect different cohorts.
Taxing, Spending
Example of a defined-benefit plan
Texas Retirement Plan
The historical period when older Americans started to band together to advocate for their own interests was prompted by:
The Great Depression
Who promotes the idea that there can be an "elderly culture" and that boomers are major consumers?
Theodre Roszak
Time after retirement that is open-ended and lacking in clear boundaries
Third age
The three components of Social Security, private pensions, and individual savings are sometimes described as a:
Three-legged stool
Any surplus in the Social Security fund goes into buying ________
Treasury notes
Older people who are economically insecure and lower-middle class are sometimes called:
Tweeners
By law, any surplus money in the Social Security Trust Fund must be used to buy:
U.S. Treasury Notes
The period of time worked that an employee must meet in order to become eligible to collect the pension is called:
Vesting rights
lder adult women experience greater discrimination for _________ aging.
Visible
VUCA
Volatility, uncertainty, complexity, ambiguity
Social Security is funded by a tax on wages during working years, followed by a _______ during retirement years.
Wage subsidy
All economic assets of value, regardless of whether they produce cash, are called:
Wealth
We have a retirement system that exacerbates ______________
Wealth inequality
The vast majority of people in the U.S. over the age of 65 are:
White
In order from highest to lowest number in aging population by race/ethnicity
White, African American, Hispanic, Asian, Native American
Who said that we should approach generational equity from an interdependence framework?
Williamson
Among older men, the trend has been away from _______ and toward retirement.
Work