The Elder Economic Security Standard Index for New Jersey

Publication Date: May 2009

Publisher: New Jersey Foundation for Aging; New Jersey Foundation for Aging; New Jersey Foundation for Aging

Author(s):

Research Area: Economics; Population and demographics

Keywords: Senior Citizens; New Jersey; Elder Index; Economic Security

Type: Report

Coverage: United States New Jersey

Abstract:

The multi-year national Elder Economic Security Initiative (Initiative) at Wider Opportunities for Women (WOW) offers a conceptual framework and concrete tools to shape public policies and programs to promote the economic well-being of older adults. The Initiative combines coalition building, research, education, and advocacy at the community, state and national levels. With support from the Retirement Research Foundation, WOW partnered with five pilot states, California, Pennsylvania, Massachusetts, Illinois and Wisconsin, to launch the national Initiative. Support from The Atlantic Philanthropies will expand the project to a total of twenty states, including Minnesota, Connecticut, New Jersey, Michigan, New York, West Virginia and New Mexico in an effort that will ultimately result in a national database with information on all 50 states and the District of
Columbia.

Underpinning the Initiative is the Elder Economic Security Standard Index (Elder Index), a new tool for use by policymakers, older adults, family caregivers, service providers, aging advocates and the public at large. Developed by the Gerontology Institute at the University of Massachusetts Boston and WOW, the Elder Index is a measure of income that older adults require to maintain their independence in the community and meet their daily costs of living, including affordable and appropriate housing and health care. The development and use of the Elder Index promotes a measure of income that respects the autonomy goals of older adults, rather than a
measure of what we all struggle to avoid, poverty.