In recent decades, many states have reduced future retirement benefits for newly hired teachers. We estimate that in … 2020 the average initial monthly retirement benefit, for teachers retiring with 30 years of service, is 11.2 percent lower …

In this paper, we study how the portfolios of elderly U.S. households evolve after retirement, using data from the … Health and Retirement Study (HRS). In particular, we investigate the influence of aging and health shocks on a household …

We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data … drawn from the Health and Retirement Study for the United States. We use data on a person's subjective probability of …. These findings are consistent with the view that retirement decisions are driven by institutional constraints and incentives …

The delayed retirement credit (DRC) increases monthly OASI (Old Age and Survivors Insurance) benefits for primary … beneficiaries who claim after their full retirement age (FRA). For many years, the DRC was set at 3.0 percent per year (0.25 percent …

Retirement income security refers to the ability of households to provide an adequate stream of income during the … period of their retirement from the labor force. Expected retirement income is based of four components: (i) standard non … that both Black and Hispanic households made remarkable progress in terms of mean and median retirement income, poverty …

Health and Retirement Study, we compare respondents' observed Social Security claiming ages and benefits with subjective …

public retirement benefits. The consequences of this policy depend on the health of the older adult population overall and by … Retirement Study who are aged 51 to 54 at baseline and are followed for up to two decades. We find that limitations in most …

From age 62 through the full retirement age, the earnings test reduces the share of married men who work full time by … least initially. If the earnings test were abolished between the early and full retirement ages, the share of married men … model of retirement and wealth. The model is then used to simulate the effects of abolishing the remainder of the Social …

much more attractive thanks to three factors: a more generous delayed retirement credit, improvements in mortality, and …

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 … rewards does not balance the loss from foregone current benefits. Using data from the Health and Retirement Study, we find …