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The Effect of Pension Design on Employer Costs and Employee Retirement Choices: Evidence from Oregon
Chalmers, John; Johnson, Woodrow T.; Reuter, Jonathan - National Bureau of Economic Research (NBER) - 2012
Oregon's Public Employees Retirement System (PERS) is a rich setting in which to study the effect of pension design on employer costs and employee retirement-timing decisions. PERS pays retirees the maximum benefit calculated using three formulas that can be characterized as defined benefit...
Persistent link: https://www.econbiz.de/10010969253
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Empirical Determinants of Intertemporal Choice
Brown, Jeffrey Robert; Ivković, Zoran; Weisbenner, Scott - National Bureau of Economic Research (NBER) - 2013
We study the empirical determinants of intertemporal choice by analyzing a unique decision Croatian retirees made recently about whether to accept an immediate pension payment or a larger stream of delayed payments. Individual decisions are correlated in sensible ways with income, liquidity...
Persistent link: https://www.econbiz.de/10010969313
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Shrouded Costs of Government: The Political Economy of State and Local Public Pensions
Glaeser, Edward Ludwig; Ponzetto, Giacomo A. M. - National Bureau of Economic Research (NBER) - 2013
Why are public-sector workers so heavily compensated with pensions and other non-pecuniary benefits? In this paper, we … total public sector costs constant, if they received higher wages and lower pensions. Central control over dispersed … municipal pensions has two offsetting effects on pension generosity: more state-level media attention helps taxpayers better …
Persistent link: https://www.econbiz.de/10010969337
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The Perception Of Social Security Incentives For Labor Supply And Retirement: The Median Voter Knows More Than You'd Think
Liebman, Jeffrey B.; Luttmer, Erzo F.P. - National Bureau of Economic Research (NBER) - 2014
The degree to which the Social Security tax distorts labor supply depends on the extent to which individuals perceive the link between current earnings and future Social Security benefits. Some Social Security reform plans have been motivated by an assumption that workers fail to perceive this...
Persistent link: https://www.econbiz.de/10010969349
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How Financial Incentives Induce Disability Insurance Recipients to Return to Work
Kostøl, Andreas Ravndal; Mogstad, Magne - National Bureau of Economic Research (NBER) - 2013
Disability Insurance (DI) programs have long been criticized by economists for apparent work disincentives. Some countries have recently modified their programs such that DI recipients are allowed to keep some of their benefits if they return to work, and other countries are considering similar...
Persistent link: https://www.econbiz.de/10010969414
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The Nexus of Social Security Benefits, Health, and Wealth at Death
Poterba, James; Wise, David; Venti, Steven F. - National Bureau of Economic Research (NBER) - 2012
Social Security benefits are the most important component of the income of a large fraction of older Americans. A significant fraction of persons approach the end of life with few financial assets and no home equity, relying almost entirely on Social Security benefits for support. Whether...
Persistent link: https://www.econbiz.de/10010969443
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Linking Benefits to Investment Performance in US Public Pension Systems
Novy-Marx, Robert; Rauh, Joshua D. - National Bureau of Economic Research (NBER) - 2012
This paper calculates the effect that introducing risk-sharing during either retirement or the working life would have on public sector pension liabilities. We begin by considering the introduction of a variable annuity for the retirement phase, modeled on the Wisconsin Retirement System, in...
Persistent link: https://www.econbiz.de/10010969448
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Unemployment Insurance and Disability Insurance in the Great Recession
Rothstein, Jesse; von Wachter, Till Marco; Mueller, … - National Bureau of Economic Research (NBER) - 2013
Disability insurance (DI) applications and awards are countercyclical. One potential explanation is that unemployed individuals who exhaust their Unemployment Insurance (UI) benefits use DI as a form of extended benefits. We exploit the haphazard pattern of UI benefit extensions in the Great...
Persistent link: https://www.econbiz.de/10010969455
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Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement - Introduction and Summary
Coile, Courtney; Milligan, Kevin; Wise, David - National Bureau of Economic Research (NBER) - 2014
This is the introduction and summary to the sixth phase of an ongoing project on Social Security Programs and Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the strong relationship across countries between social...
Persistent link: https://www.econbiz.de/10010950785
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Insurance Markets for the Elderly
Fang, Hanming - National Bureau of Economic Research (NBER) - 2014
We describe the risks faced by the ageing population and survey the corresponding insurance markets for these risks. We focus on income risk, health expenditure risk, long-term care expenditure risk and mortality risk. We also discuss the interactions between social insurance and private...
Persistent link: https://www.econbiz.de/10010950891