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Projecting Behavioral Responses to the Next Generation of Retirement Policies
Gustman, Alan L.; Steinmeier, Thomas - National Bureau of Economic Research (NBER) - 2007
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 model allows those with high time preference rates to find...
Persistent link: https://www.econbiz.de/10005828535
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How Changes in Social Security Affect Recent Retirement Trends
Gustman, Alan L.; Steinmeier, Thomas - National Bureau of Economic Research (NBER) - 2008
increased their labor force participation by between 1.4 and 2.2 percentage points, or 2 to 4 percent, depending on age. Social … Security changes account for about one sixth of the increase in labor force participation between 1998 and 2004, for married … after retiring, and increasing partial retirement. Although married men in their fifties decrease their participation in the …
Persistent link: https://www.econbiz.de/10005774979
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Golden Years or Financial Fears? Decision Making After Retirement Seminars
Allen, Steven; Clark, Robert L.; Maki, Jennifer; … - National Bureau of Economic Research (NBER) - 2013
Many organizations provide retirement planning seminars to their employees as a benefit to help them make better informed retirement decisions.  This study examines the participants in 85 seminars conducted by five companies in 2008 and 2009 to determine how much learning takes place and...
Persistent link: https://www.econbiz.de/10010969279
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Can Simple Informational Nudges Increase Employee Participation in a 401(k) Plan?
Clark, Robert L.; Maki, Jennifer A.; Morrill, Melinda … - National Bureau of Economic Research (NBER) - 2013
We report results from a field experiment in which a randomized subset of newly hired workers at a large financial institution received a flyer containing information about the employer's 401(k) plan and the value of contributions compounding over a career. Younger workers who received the flyer...
Persistent link: https://www.econbiz.de/10010951128
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The Great Recession, Decline and Rebound in Household Wealth for the Near Retirement Population
Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - National Bureau of Economic Research (NBER) - 2014
This paper uses data from the Health and Retirement Study to examine the effects of the Great Recession on the wealth held by the near retirement age population from 2006 to 2012. For the Early Boomer cohort (ages 51 to 56 in 2004), real wealth in 2012 remained 3.6 percent below its 2006 value....
Persistent link: https://www.econbiz.de/10010951339
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The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study
Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - National Bureau of Economic Research (NBER) - 2013
This paper uses data from the Health and Retirement Study to investigate the effects of Social Security's Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) provision on Social Security benefits received by individuals and households. WEP reduces the benefits of individuals...
Persistent link: https://www.econbiz.de/10010951402
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Retirement Plan Type and Employee Mobility: The Role of Selection and Incentive Effects
Goda, Gopi Shah; Jones, Damon; Manchester, Colleen Flaherty - National Bureau of Economic Research (NBER) - 2013
Employer-provided pension plans may affect employee mobility both through an "incentive effect," where the bundle of benefit characteristics such as vesting rules, pension wealth accrual, risk, and liquidity affect turnover directly, and a "selection effect," where employees with different...
Persistent link: https://www.econbiz.de/10010951439
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Mismeasurement of Pensions Before and After Retirement: The Mystery of the Disappearing Pensions with Implications for the Importance of Social Security as a Source of Retirement S...
Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - National Bureau of Economic Research (NBER) - 2012
A review of the literature suggests that when pension values are measured by the wealth equivalent of promised DB pension benefits and DC balances for those approaching retirement, pensions account for more support in retirement than is suggested when their contribution is measured by incomes...
Persistent link: https://www.econbiz.de/10010951474
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Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design
Mitchell, Olivia; Utkus, Stephen P.; Tongxuan (Stella) Yang - National Bureau of Economic Research (NBER) - 2005
We develop a comprehensive model of 401(k) pension design that reflects the complex tax, savings, liquidity and investment incentives of such plans. Using a new dataset on some 500 plans covering nearly 740,000 workers, we show that employer matching contributions have only a modest impact on...
Persistent link: https://www.econbiz.de/10005014934
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Does Retiree Health Insurance Encourage Early Retirement?
Slavov, Sita Nataraj; Wise, David; Nyce, Steven; … - National Bureau of Economic Research (NBER) - 2011
The strong link between health insurance and employment in the United States may cause workers to delay retirement until they become eligible for Medicare at age 65. However, some employers extend health insurance benefits to their retirees, and individuals who are eligible for such retiree...
Persistent link: https://www.econbiz.de/10009403415