Potential Impacts of the COVID-19 Pandemic on the Income Security of Older Americans [November 24, 2020] [open pdf - 2MB]
From the Introduction: "The Coronavirus Disease 2019 (COVID-19) pandemic has affected many aspects of the U.S. economy. The National Bureau of Economic Research determined that the United States entered a recession in February 2020. The pandemic and related recession are likely to affect income sources, assets, and spending for Americans aged 55 and older, including both older workers approaching retirement and current retirees. [...] This report discusses how the pandemic may affect the income, assets, and non-health-care spending among older workers approaching retirement and current retirees. It also explains potential concerns about the income security of older Americans during and after the pandemic and discusses related issues for Congress to consider, including how legislation might help to improve income security among older workers and current retirees during and after the pandemic."
CRS Report for Congress, R46617
Congressional Research Service: https://crsreports.congress.gov/