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GERONTOLOGY > FINAL EXAM > Flashcards

FINAL EXAM Flashcards

1
Q

What is median net worth?

A

The total value of all assets (house, other property, personal savings) minus any debts
o It’s low among young adults who are just starting their careers
o Rises steadily until age 65
o Begins to decline as people spend down their savings to pay for health care and living expenses

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2
Q

wealth of older people is tied up in what?

A

their homes

o Once the value of the home is excluded, the net worth of this group falls

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3
Q

The % of people with retirement savings accounts and the amount of retirement savings accounts is…

A

declining

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4
Q

what did the Housing crisis of 2008-2012 do?

A

home values, leaving people with less wealth and lower net worth

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5
Q

The collapse of the stock market in 2008 did what?

A

destroyed trillions of dollars of retirement savings and forced people in or near retirement to make serious adjustments to their plans

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6
Q

What most separates the low income elderly from the more affluent?

A

their assets

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7
Q

Baby boomer cohort has had ?? opportunities than their parents?

A

fewer

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8
Q

baby boomer cohort decisions that reduced the effect of adverse trends:

A

o married later than parents
o waited longer to have kids
o had fewer kids

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9
Q

what the most successful program of the American welfare state?

A

Social Security - has removed large numbers of older people from poverty

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10
Q

Attitudes have shifted slightly toward the view that ??? money is being spent on SS

A

too much, but support remains high.

• Majority of people feel that the government is spending too little or just about the right amount of SS

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11
Q

Why is the social security trust fund in jeopardy?

A
  • Aging of the baby boom generation
  • Slower population growth after 1960
  • People are living longer in old age
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12
Q

By 2025 there will be ?? workers paying into system and ?? retirees

A

fewer workers, more retirees
o By 2027 revenue coming into the trust fund will fall
o By 20040 the trust fund will be depleted

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13
Q

Options for SS reform

A

• Increase the retirement age
• Reduce benefits
o Lengthen the years of work needed for full benefits
o Decrease the return for high earners
o Decouple benefit increases from cost of living increases
• Increasing revenues
o Increase the present payroll tax rate
• Means testing
o Reduce benefits only to higher income individuals
• Privatization
o Allows individuals to divert a portion of payroll taxes to private accounts

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14
Q

what does a Defined benefit plan do?

A
  • Pays a worker a set amount for life upon retirement

* Amount based on years of service and prior earnings

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15
Q

Problems with DB plans:

A

o Access
o Vesting rules
o Not indexed to inflation
o Pension funds have been insufficient to cover those eligible

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16
Q

What did the Employee retirement income security act (ERISA do?

A
  • Established vesting standards
  • Set more stringent funding requirements
  • Established better methods of reporting plan benefits and finances to workers
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17
Q

What does Pension benefit guaranty corporation (PBGC) do?

A

Pays the benefits owed if a terminated pension plan has insufficient funds to meet its obligations to the workers

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18
Q

How is the PBGC financed?

A

financed partly by premiums paid by the plans or the employers who sponsor these plans

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19
Q

What is a Defined Contribution plan?

A

• The employer, the worker and employer, or the worker alone pays a fixed amount into an account that is invested on behalf of the worker
• Benefits at retirement are based on the amount that has accumulated in the account
o Most common is 401k

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20
Q

A DC plan is more ?? than a DB plan?

A

more common

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21
Q

Problems with DC plans

A
  • Workers may withdraw funds early for other needs
  • Participation is voluntary and rates of participation among low income workers is low
  • Workers are encouraged or required to place all contributions into company stock
  • Vulnerable to big fluctuations in value
  • Workers may choose risky investments
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22
Q

What is personal savings?

A
  • an individual retirement account (IRA)
  • Workers contribute a yearly amount without paying taxes on the income or the earnings
  • Employers may also set up voluntary savings plans for workers
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23
Q

Problems with personal savings:

A 
•	Problem is knowing how much to save and starting early
o	No one can predict the future
o	Labor market uncertainty
o	Health may decline
o	Divorce
o	Age of retirement
o	Future rate of inflation
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24
Q

Theory of Cumulative Disadvantage

A
  • the central premise of the theory is that those who begin life with greater resources have more opportunities to acquire additional resources
  • those who begin life with little fall further behind
  • inequality is not random among the aged but patterned
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25
Q

What is poverty rate?

A

the percentage of people below the poverty level

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26
Q

Subgroups od the elderly that have high poverty rates:

A
  • single
  • minority
  • female
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27
Q

Who has lower income in old age?

A

Women and African Americans or Hispanics

-whites are more likely to receive income from pensions, women are less likely than men

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28
Q

Women and minorities depend on SS benefits more for income BUT….

A

the benefits they receive are lower

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29
Q

Gender Inequality and Work

A
  • paid labor for women in the last 50 years has increased
  • men do more around the house than they did 30 years ago
  • women employed outside the home still perform as much housework and child care as non-employed married women
  • familial responsibilities disrupt their employment
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30
Q

Gender Recognition

A
  • presumes that gender equality can be achieved by taking into account the differences between men and women and taking measures to compensate the disadvantaged sex
  • Removing periods of child care from the computation of SS benefit levels could eliminate the penalty mothers pay for taking time out to care for their children
  • could provide child care credit under a special minimum benefit
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31
Q

Gender Neutrality

A

reformulating laws in gender neutral terms

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32
Q

Inequality in SSI

A
  • three quarters of SSI recipients are women
  • average monthly benefit is very low
  • poverty among older women is less of a problem in other Western nations
  • U.S is the only country where single elderly women have higher poverty rates than older couples
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33
Q

Retirement Equality Act of 1984

A
  • allowed pension-splitting to become part of a divorce decree
  • now the pension is considered part of the property settlement
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34
Q

who are poverty rates are higher for?

A

Puerto Ricans and Mexicans

35
Q

What is the largest minority group?

A

African American Elderly

36
Q

Asian Elderly had high rates of….

A

education

37
Q

Which minority has the highest unemployment rates and highest mortality rates?

A

Native American Elderly

38
Q

How are the dead presumed in preliterate societies?

A

the dead are imbued with special powers and considered potentially harmful to the living

39
Q

Funeral rituals in preliterate societies:

A
  • a dead person is never mentioned by the name after the burial
    o Ancient Hebrews regarded the corpse as unclean and not to be touched
    o Among most traditional; native American tribes, ghosts of the dead were feared
40
Q

Hinduism belief:

A

transmigration of souls;
o Passing of souls from one to another
burning or burying women alive with their deceased husbands

41
Q

Buddhists view on death:

A

• Buddhists do not fear death
o believe that dying is an inescapable part of life
o People who lead a good life and perform meritorious deeds for others will be rewarded in their next life

42
Q

Die de los Muertos

A

day of the dead; communion between living and dead who return to visit; welcomed with food and drink

43
Q

Shift in how death is viewed and dying are treated:

A

Deaths used to occur in ppl 14 and younger, now they occur in old age

44
Q

epidemiologic transition

A

shift in the proportion of deaths among the young and the elderly

45
Q

Kubler-Ross and the Stage Theory of Dying

A

o Denial: i dont have cancer, thats not me
o Anger: get mad at doctor- “fix me”
o Bargaining: make it right with god, i will do this if you let me see my son get married
o Depression: sad, withdrawn, not enough sleep or too much, suicide thoughts
o Acceptance: gone through all stages, make peace that they are going to die

46
Q

Major criticism of the stage theory

A

stages do not occur in a fixed sequence

47
Q

living wills

A

when individuals specify their wishes for treatment in advance in case they should become terminally ill

48
Q

Complex issues with doctors using modern technology to keep patient alive at all costs:

A

o When should care cease?

o Should a physician assist a terminally ill patient who wants to die?

49
Q

Attitudes toward end-of-life care

A

Whites are more likely than African Americans to to discuss treatment preferences, complete a will and give power to attorney; whites also more likely to limit care and refuse treatment if terminally ill

50
Q

Passive euthanasia:

A

o Involves withholding or withdrawing medical treatment from the hopelessly ill

51
Q

Active euthanasia:

A

o Also called assisted suicide

o Occurs when a physician, close friend, or relative helps an ill or disabled person terminate his or her life

52
Q

Suicide among the aged

A

• Nearly a quarter of all suicides committed by people 65+
o especially high among men 85 and older
o Elderly white men are the only group more likely to commit suicide than to die in an auto accident

53
Q

Things that cause suicide risk to increase with advanced aged:

A 
o	Social isolation
o	Boredom
o	Sense of uselessness
o	Financial hardship
o	Multiple losses of loved ones
o	Chronic illness and pain
54
Q

Hospice care

A 
emphasizes quality over the quantity of life; allows terminally ill to:
o	Die easily and peacefully
o	No pain
o	At home
o	Special units of hospitals
o	Hospice facilities
55
Q

5 sources of payment for hospice services

A 
o	Medicare
o	Medicaid
o	Private insurance
o	Private pay
o	Charitable donations
56
Q

Women have a greater probability of becoming widowed than men because…

A

they live longer and are usually younger than husbands

57
Q

Many men are totally unprepared to assume the role of widower because…

A

o Many have never prepared a meal
o They eat poorly and skip meals
o As a consequence, their health suffers

58
Q

By age 62 ??% of adult children have lost both parents

A

75%

59
Q

Loss of which parent is more upsetting?

A

Mother

60
Q

What factors contributed to the economic status of older adults in 1960s?:

A

Marital status, sources of income, private pensions

61
Q

Social security is paid for by what?

A

Payroll taxes - 6.2% and 1.5% for medicare

62
Q

Competition among members of the baby boom generation has resulted in…

A

Fewer opportunities than their parent’s generation

63
Q

Which program is the most successful?

A

Social Security

64
Q

Which option for social security reform discourages savings?

A

means testing

65
Q

which country has the lowest payroll tax?

A

canada

66
Q

What was passed in 1974 to alleviate problems with defined pension plans?

A

Employee retirement income security act (ERISA)

67
Q

It is harder for older people to spend money because they spend their money on…

A

health care and housing

68
Q

Older people can use their home equity to pay for their retirement

A

true

69
Q

The SS trust fund is affected by the decline in birth rate

A

true

70
Q

The public does not support SS

A

false

71
Q

People have realistic perceptions of how much to save for retirement

A

false - 62% of younger population is saving for retirement now

72
Q

The premise of the cumulative disadvantage theory is that those with greater resources will have greater opportunities to acquire more resource than those who have lesser resources to start:

A

true

73
Q

Gender equality in old age can be attributed to:

A

familial responsibilities

74
Q

Younger women make about ??% of what younger men do in the same occupation

A

88%

75
Q

Which country has a society in which there is virtually no poor elderly?

A

Sweden because of how their economic system is set up

76
Q

How many racial categories are represented in the 2010 census?

A

16

77
Q

Native Americans have the higher ?? and ??? rates

A

Unemployment and mortality because

78
Q

5 stages of the Kubler Ross Stage Theory of Dying

A
  1. Denial
  2. Acceptance
  3. Bargaining
  4. Depression
  5. Anger
79
Q

Most payments for hospice care come from:

A

medicare

80
Q

What services does hospice care provide?

A

Medications, treatment and pain management, Rehabilitation and support

81
Q

Widowhood is associated with increased risk of ?? and ??

A

Morbidity and illness

82
Q

The loss of a father is more upsetting than the loss of a mother: FALSE

A

Loss of Mother is more upsetting than father

83
Q

By appointing a power of attorney the individual specifies their wish for treatment in writing in advance :

A

FALSE - living will

GERONTOLOGY (1 decks)

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