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 …

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. The first phase described the retirement incentives inherent in plan provisions and documented the … methodology to study retirement behavior used in the second phase to focus in particular on the effects of the DI programs. The …

willing to pay 20 cents on average for a dollar increase in the present value of expected retirement benefits. The findings …

determining retirement, spousal, and survivor benefits, along with benefit adjustments that vary with the age at which these are … consistent with empirical evidence. We also confirm predictions that wives will claim retirement benefits earlier than husbands …

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 … part of the story. The assets held by members of the cohort nearing retirement at the onset of the recession would normally …

This paper uses data from the Health and Retirement Study to investigate the effects of Social Security's Windfall … before retirement. Households affected by both WEP and GPO lose about one third of their benefit. Limiting the reduction in …

pension benefits and DC balances for those approaching retirement, pensions account for more support in retirement than is …. Estimates from the Health and Retirement Study (HRS) for respondents in their early fifties suggest that pension wealth is about … Security. Our empirical analysis uses data from the Health and Retirement Study to examine the reasons for these differences in …