This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase … voluntarily claim about half a year later if the lump sum were paid for claiming any time after the Early Retirement Age, and … about two-thirds of a year later if the lump sum were paid only for those claiming after their Full Retirement Age. Overall …

decisions as well as novel mechanisms governing these trade-offs. Using data from the Health and Retirement Study and the … Security benefits prior to their normal retirement age, despite large penalties associated with these early benefit claims. We …

relationship between social security provisions and retirement. The project relies on the analyses of a large group of economists … consistently show that program incentives accord strongly with retirement decisions. The magnitude is illustrated by the …, perhaps closer to 36 percent in the long run. On the other hand, an illustrative common reform'-- with early retirement at age …