We consider the retirement behavior of civilian employees of the United States government. Unlike previous studies … the financial aspects of individual retirement decisions with a reasonable degree of precision. A large fraction of civil … the expected wait until the pension commences affect the timing of retirement from the Federal service. (2) The rate of …

derive the optimal retirement portfolio from a menu that includes payout annuities as well as an investment allocation and a … allocation, when fixed as of retirement, is then compared to phased withdrawal strategies such a %u201Cself-annuitization%u201D …

This paper examines the tilt and risk-return characteristics of real retirement incomes provided by variable annuities …

Health and Retirement Study (HRS), for 60 percent of total wealth of HRS households who are in the 45th to 55th wealth …

longitudinal examination of pension retirement incentives in several dozen plans observed between about 1960 to 1980. The plans … under study instituted many changes over this period, several of which enhanced the financial payoff to early retirement …. These alterations included increases in benefit levels, reductions in early, normal and mandatory retirement ages, and cuts …

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 fact that the state retirement pension does not become available to men until age 65, half of men aged 60-64 were … economically inactive in the mid 1990s. The main element of the state retirement pension is flat rate, and for most people is … earned as a result of extra contribu- tions. Overall the state retirement pension system offers no incentives for people to …

This paper examines heterogeneity in the responsiveness to default options in a large state retirement plan, focusing …