Are People Claiming Social Security Benefits Later?
Today, the retirement income system — comprising Social Security and employer-sponsored pension plans — is contracting. To compensate, people need to work longer to ensure an adequate income over many years throughout retirement. A few additional years in the labor force can make a big difference. Working longer directly increases current income; it avoids the actuarial reduction in Social Security benefits; it allows people to contribute more to their 401(k) plans; and it shortens the period of retirement.
Year of publication: |
2008-06
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Authors: | Muldoon, Dan ; Kopcke, Richard W. |
Institutions: | Center for Retirement Research (CRR), Boston College |
Saved in:
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