pensions, and Social Security profiles available at alternative retirement ages. Then we examine four specific changes in the … structure of Social Security benefits: raising the normal retirement age, delaying the cost-of-living adjustment, lowering early … retirement benefits, and increasing late retirement payments. Behavioral parameters are estimated using an ordered logit model of …

This paper estimates the effects on steady state retirement by men of changes in pension" plans and social security in … from the 1969-79 Retirement History" Study and the 1983 and 1989 Surveys of Consumer Finances. Simulations with a … structural" retirement model suggest that the long run effects of changes in pension plans and social security" account for about …

The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age …. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper …'. Our simulations show that the early-retirement pension adjustment factors introduced by the 1992 pension reform will, in …

share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity … accumulated for retirement. This paper addresses three important adjustments channels to dampen these detrimental effects of … ageing: investing abroad, endogenous human capital formation and increasing the retirement age. Although non of these …

examination of the potential magnitudes of such bequests and of their effect on retirement annuities and asset accumulation. The … most likely form of bequest, the preretirement bequest' made when employees die before normal retirement age, reduces the … funds available for post-retirement annuities by about 16 percent or, equivalently, requires a one-sixth increase in the …

We analyze older individuals' debt and financial vulnerability using data from the Health and Retirement Study (HRS …

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 …

Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid … project document that social security program provisions can create powerful incentives for retirement that are strongly … affect retirement, whether there is a link between older employment and youth unemployment, and whether older individuals are …

This study examines empirically whether social security influences the retirement decisions of individuals. The …'s income and substitution effects are included in a model for examining retirement decisions. This model is based on the model … from the Social Security Administration and are particularly well suited for this study. Retirement models are estimated …

Does retirement behavior react predictably to economic incentives? Evidence on this question would be useful to policy … makers responsible for work and retirement programs affecting the elderly. This paper reviews the lessons and limitations of … recent economics literature on pensions, earnings, and retirement. Section I develops the life cycle context for analyzing …