This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral …. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our … rewards does not balance the loss from foregone current benefits. Using data from the Health and Retirement Study, we find …

period, while others argue that individuals should be protected from recklessly investing their retirement assets. With …

needs of older Americans. In the past twenty five years, however, there has been a dramatic change in private retirement … saving. Personal retirement accounts have replaced defined benefit pension plans as the primary means of retirement saving …. It is important to understand how this change will affect the wealth of future retirees. The personal retirement account …

changes that would affect pension payouts including cost of living adjustments (COLAs), retirement ages, and buyout schedules … for early retirement. Liabilities if plans were frozen as of June 2009 would be $3.2 trillion if capitalized using taxable … fair early retirement could reduce them by 2‐5%, and raising the retirement age by one year would reduce them by 2‐4%. Even …

Focal retirement ages are a central feature of Social Security programs around the world, and provide a potentially … powerful tool for policy makers who are interested in reforming retirement systems to address the growing funding shortfalls … retirement system in Finland, featuring a relabeling of retirement ages with modest and continuous changes in financial …

Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early … claiming penalties significantly delays pension claiming and retirement, but imposing large penalties and holding the FRA fixed …

and of incentives for retirement, mobility and effort. Policies investigated include those regulating vesting, pension …

This paper constructs a structural retirement model with hyperbolic preferences and uses it to estimate the effect of … preferences. Sophisticated hyperbolic discounters may accumulate substantial amounts of wealth for retirement. We find it is … accumulation paths or consumption paths around the period of retirement. The simulations also suggest that, despite the much higher …

How households draw down their balances in personal retirement accounts (PRAs) such as 401(k) plans and IRAs can have … an important effect on retirement income security and on federal income tax revenues. This paper examines the withdrawal … behavior of retirement-age households in the SIPP and finds a modest rate of withdrawals prior to the age of 701⁄2, the age at …