This paper investigates the impact of a Deferred Retirement Option Plan (DROP) on the age of retirement of employees covered by defined benefit pension plans provided by the City of Philadelphia. We show that the program results in significant and substantial increases in the age of retirement:...

The magnitude of the effect that health has on the retirement decision has long been studied. We examine the reverse relationship, whether or not retirement has a direct impact on later-life health. In order to identify the causal relationship, we use unexpected early retirement window offers to...

Access to health insurance is a known determinant in the decision of when to retire. What remains unknown, however, is how much retirement behavior will change in response to the set of reforms that will be enacted in 2014 with the Patient Protection and Affordable Care Act (ACA). These reforms...