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

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 …

This paper addresses two questions:(1) Are older persons' retirement ages significantly affected by the opportunities … for income from earnings,private pensions, and Social Security and for leisure at alternative retirement ages?; and (2 …) How large are the estimated responses? Our approach to modeling the retirement problem is a forward-looking one, in which …

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

example, we find that any effort to promote opportunities for partial retirement as a means to increase overall work is likely …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 …

We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health. We show … consumption level and the proportion of life spent in leisure. The retirement age increases proportionally less than the increase …

Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …. As mortality falls, however, it becomes optimal to plan, and save for, retirement. We simulate our model using actual …

Empirical analyses of retirement typically assume a single form of retirement. In this paper, I consider the … determinants of retirement in a competing risks model which allows for full and partial retirement. Simulation results indicate … that the large increase in Social Security benefits in the early 1970s has had moderate effects upon retirement, increasing …

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 …