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 …

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 …

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 paper examines how phased retirement plans in higher education create value for both the institution and … individual faculty, based upon evidence from the Survey of Changes in Faculty Retirement Policies and an in-depth case study of … having the ability to make a smoother transition to retirement. The policy is clearly of great value to the 25 to 35 percent …

Employers have been launching phased retirement programs to help workers navigate the transition from work to … retirement more effectively. This paper examines the experience of the phased retirement system for tenured faculty in the … University of North Carolina system. After phased retirement was introduced, there was a sizable increase in the overall …

pension formulas, I estimate the combined effect of Social Security and pension benefits on the probability of retirement in a … cross-section of the population near retirement age. The accrual rate of retirement wealth is shown to be a significant … determinant of the probability of retirement. Simulations of extensions in pension coverage comparable to those that occurred in …

The option value model developed in an earlier paper is used to simulate the effect on retirement of changes in a firm … much greater effect than Social Security regulations on the retirement decisions of the firm's employees. The analysis … supports the following conclusions: (1) Increasing the firm's early retirement age from 55 to 60, for example, would reduce by …

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 …

Most state and local retirement plans strive for full funding, at least by actuarial standards. Funding measured at …

not even offer participants a life annuity option at retirement. Thus, individuals who wish to annuitize generally must do … retirement resources …