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Do retirement dreams come true? The effect of unanticipated events on retirement plans

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Author Info
Kathryn Anderson
Richard V. Burkhauser
Joseph F. Quinn

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Abstract

Analyzing data from the Retirement History Study, the authors find that the retirement plans of male workers aged 58-63 in 1969 were significantly affected by unanticipated events over the next decade. Specifically, unanticipated increases in Social Security wealth induced retirement earlier than originally planned, as did deterioration in personal health, whereas the recession of the 1970s tended to delay retirement. This evidence that policy changes do affect retirement behavior in systematic ways provides support for the decision by Congress to defer until the turn of the century the application of several important provisions of the 1983 amendments to the Social Security Act. (Abstract courtesy JSTOR.)

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Publisher Info
Article provided by ILR Review, ILR School, Cornell University in its journal ILR Review.

Volume (Year): 39 (1986)
Issue (Month): 4 (July)
Pages: 518-526
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ilr:articl:v:39:y:1986:i:4:p:518-526

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  1. Steven Haider & Mel StephensJr., 2006. "How Accurate are Expected Retirement Savings?," Working Papers wp128, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
  2. John Bound & Michael Schoenbaum & Todd R. Stinebrickner & Timothy Waidmann, 1998. "The Dynamic Effects of Health on the Labor Force Transitions of Older Workers," NBER Working Papers 6777, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Alan B. Krueger & Jorn-Steffen Pischke, 1991. "The Effect of Social Security on Labor Supply: A Cohort Analysis of the Notch Generation," NBER Working Papers 3699, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Steven Haider & Melvin Stephens Jr., 2004. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," NBER Working Papers 10257, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Richard V. Burkhauser & Timothy M. Smeeding, 1994. "Social Security Reform: A Budget Neutral Approach to Reducing Older Women's Disproportional Risk of Poverty," Center for Policy Research Policy Briefs 2, Center for Policy Research, Maxwell School, Syracuse University. [Downloadable!]
  6. Richard Disney & Carl Emmerson & Matthew Wakefield, 2003. "Ill health and retirement in Britain: a panel data based analysis," IFS Working Papers W03/02, Institute for Fiscal Studies. [Downloadable!]
    Other versions:
  7. Mário Centeno & Márcio Corrêa, 2006. "Job Matching, Unexpected Obligations And Retirement Decisions," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 159, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]. [Downloadable!]
  8. Katherine G. Abraham & Susan N. Houseman, 2004. "Work and Retirement Plans among Older Americans," Staff Working Papers 04-105, W.E. Upjohn Institute for Employment Research. [Downloadable!] (restricted)
  9. Melvin Stephens Jr. & Steven J. Haider, 2003. "Can Unexpected Retirement Explain The Retirement-Consumption Puzzle? Evidence For Subjective Retirement Expectations," Working Papers, Center for Retirement Research at Boston College 2003-15, Center for Retirement Research. [Downloadable!]
  10. Deborah A. Cobb-Clark & Steve Stillman, 2006. "The Retirement Expectations of Middle-Aged Individuals," CEPR Discussion Papers 540, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
    Other versions:
  11. B. Douglas Bernheim, 1987. "The Timing of Retirement: A Comparison of Expectations and Realizations," NBER Working Papers 2291, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  12. Sewin Chan & Ann Huff Stevens, 1999. "Employment and Retirement Following a Late-Career Job Loss," American Economic Review, American Economic Association, vol. 89(2), pages 211-216, May. [Downloadable!] (restricted)
    Other versions:
  13. Joseph F. Quinn, 1999. "The Labour Market, Retirement, and Disability," Boston College Working Papers in Economics 420, Boston College Department of Economics. [Downloadable!]
  14. Alan B. Krueger & Bruce D. Meyer, 2002. "Labor Supply Effects of Social Insurance," NBER Working Papers 9014, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  15. B. Douglas Bernheim, 1988. "How Do the Elderly Form Expectations? An Analysis of Responses to New Information," NBER Working Papers 2719, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  16. repec:fth:prinin:255 is not listed on IDEAS
  17. John B. Williamson & Tay K. McNamara, 2002. "The Effect of Unplanned Changes in Marital and Disability Status: Interrupted Trajectories and Labor Force Participation," Working Papers, Center for Retirement Research at Boston College 2002-05, Center for Retirement Research. [Downloadable!]
  18. Gabor Kezdi & Purvi Sevak, 2004. "Economic Adjustment of Recent Retirees to Adverse Wealth Shocks," Working Papers wp075, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
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