This report will address the question of income adequacy for Illinois’ older adults using the national WOW-GI National Elder Economic Security Standard Index (the Index) methodology. The Index will benchmark basic costs of living for elder households. It will illustrate how costs of living vary geographically and are based on the characteristics of elder households: household size, homeownership or renter, mode of transportation, and health status. The costs are for basic needs of elder households; they are based on market costs and do not assume any subsidies.
Russell, Laura Henze and Bruce, Ellen A., "The Elder Economic Security Initiative™ Program: The Elder Economic Security Standard™ Index for Illinois" (2008). Gerontology Institute Publications. 40.