Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2022
The US has long incentivized retirement saving in 401(k) and similar retirement accounts by permitting workers to defer … taxes on contributions, levying them instead when retirees withdraw funds in retirement. This paper develops a dynamic life … lead to later retirement ages, particularly for the better-educated. It would also reduce work hours and lifetime tax …