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 …

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 …

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 …

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 …

How households draw down their balances in personal retirement accounts (PRAs) such as 401(k) plans and IRAs can have … an important effect on retirement income security and on federal income tax revenues. This paper examines the withdrawal … behavior of retirement-age households in the SIPP and finds a modest rate of withdrawals prior to the age of 70½, the age at …