pensions, and Social Security profiles available at alternative retirement ages. Then we examine four specific changes in the … structure of Social Security benefits: raising the normal retirement age, delaying the cost-of-living adjustment, lowering early … retirement benefits, and increasing late retirement payments. Behavioral parameters are estimated using an ordered logit model of …

Does retirement behavior react predictably to economic incentives? Evidence on this question would be useful to policy … makers responsible for work and retirement programs affecting the elderly. This paper reviews the lessons and limitations of … recent economics literature on pensions, earnings, and retirement. Section I develops the life cycle context for analyzing …

examination of the potential magnitudes of such bequests and of their effect on retirement annuities and asset accumulation. The … most likely form of bequest, the preretirement bequest' made when employees die before normal retirement age, reduces the … funds available for post-retirement annuities by about 16 percent or, equivalently, requires a one-sixth increase in the …

This paper examines the role of economic factors in determining retirement behavior using a unique new data archive on … different retirement models including linear as well as discrete choice formulations. This framework provides new insights into … how andwhy retirement ages differ across firms. We conclude that older workers' income opportunities differ depending on …

We examine respondents in the Health and Retirement Study (HRS) to observe how their financial situations unfolded as … retirement, and progress through their retirement years, and (b) labor force participation declined and thus earnings became less … important with age, while Social Security and retirement savings rose as a proportion of annual income …

with annuities financed by Personal Retirement Accounts. We showed that such a combination could maintain the level of … retirement income projected in current Social Security law while avoiding a future increase in the payroll tax rate. The current … paper extends the earlier analysis in four ways: (1) We now specify that the funds deposited in the Personal Retirement …

We analyze older individuals' debt and financial vulnerability using data from the Health and Retirement Study (HRS …

A program of Personal Retirement Accounts (PRAs) funded by deposits equal to 2.3 percent of earnings (up to the Social … Security maximum) would permit retirees to receive more income in retirement than with the current Social Security program … retirement income and stabilize the Social Security payroll tax, but would also substantially increase national saving and GDP …