This paper advances the specification and estimation of models of retirement and saving in two earner families. The … complications introduced by the interaction of retirement decisions by husbands and wives have led researchers to adopt a number of … simplifications to increase the feasibility of estimating family retirement models. Our model relaxes these restrictions. It includes …

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals … Retirement Study data, it does a better job of predicting claiming than previous versions. Alternative beliefs about the future … entitlement age, increasing the full retirement age, and eliminating the payroll tax for seniors. Predicted responses to …

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 …

same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no … from the equity premium. Second, financial literacy is positively related to retirement planning, and the development of a …

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 … employer's perspective, we show that this "maximum benefit" calculation is costly. Average ex post retirement benefits are 54 …

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 whether employees adjust retirement plans.  Using surveys conducted …