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Changing the Social Security rules for work after age 65

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Author Info

  • Alan L. Gustman
  • Thomas L. Steinmeier

Abstract

This paper simulates the effects of proposed changes in the social security rules, including the elimination of the Retirement Earnings Test, for men who work after normal retirement age. A policy change that was given serious consideration by the Social Security Administration in 1988-89 (and that is similar to other proposals made in Congress and elsewhere since then) is projected to raise long-run costs by $43 billion net of taxes and to induce an increase of 3.5% in the number of full-time male workers between the ages of 65 and 69. The outcome, especially in the short run, is greatly affected by the timing of workers' decisions to apply for benefits. (Abstract courtesy JSTOR.)

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Bibliographic Info

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

Volume (Year): 44 (1991)
Issue (Month): 4 (July)
Pages: 733-745

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Handle: RePEc:ilr:articl:v:44:y:1991:i:4:p:733-745

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Cited by:
  1. Hugo Benitez-Silva & Na Yin, 2007. "An Empirical Study of the Effects of Social Security Reforms on Claming Behavior and Benefits Receipt Using Aggregate and Public-Use Administrative Micro Data," Department of Economics Working Papers 07-05, Stony Brook University, Department of Economics.
  2. Leora Friedberg, 1999. "The Labor Supply Effects of the Social Security Earnings Test," NBER Working Papers 7200, National Bureau of Economic Research, Inc.
  3. Hugo Benitez-Silva & Frank Heiland, 2005. "Early Claiming of Social Security Benefits and Labor Supply Behavior of Older Americans," Department of Economics Working Papers 05-05, Stony Brook University, Department of Economics.
  4. Hugo Ben�tez-Silva & Frank Heiland, 2007. "The social security earnings test and work incentives," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 26(3), pages 527-555.
  5. Alan L. Gustman & Thomas L. Steinmeier, 1994. "Employer-provided health insurance and retirement behavior," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 48(1), pages 124-140, October.
  6. Hugo Benitez-Silva & Debra S. Dwyer & Frank Heiland & Warren C. Sanderson, 2006. "Retirement and Social Security Reform Expectations: A Solution to the New Early Retirement Puzzle," Department of Economics Working Papers 06-05, Stony Brook University, Department of Economics.
  7. David S. Loughran & Steven Haider, 2007. "Do the Elderly Respond to Taxes on Earnings? Evidence from the Social Security Retirement Earnings Test," Working Papers 223-1, RAND Corporation Publications Department.
  8. Song, Jae G. & Manchester, Joyce, 2007. "New evidence on earnings and benefit claims following changes in the retirement earnings test in 2000," Journal of Public Economics, Elsevier, vol. 91(3-4), pages 669-700, April.
  9. Hugo Benitez-Silva & Frank Heiland, 2008. "Early Retirement, Labor Supply, and Benefit Withholding: The Role of the Social Security Earnings Test," Working Papers wp183, University of Michigan, Michigan Retirement Research Center.
  10. Hugo Benitez-Silva & Frank Heiland, 2006. "The Social Security Earnings Test Revisited: Information, Distortions, and Costs," Department of Economics Working Papers 06-04, Stony Brook University, Department of Economics.
  11. Baker, Michael & Benjamin, Dwayne, 1999. "How do retirement tests affect the labour supply of older men?," Journal of Public Economics, Elsevier, vol. 71(1), pages 27-51, January.
  12. Robin L. Lumsdaine, 1995. "Factors Affecting Labor Supply Decisions and Retirement Income," NBER Working Papers 5223, National Bureau of Economic Research, Inc.
  13. David Neumark & Elizabeth Powers, 1996. "Consequences of means testing Social Security: evidence from the SSI program," Working Paper 9618, Federal Reserve Bank of Cleveland.
  14. Stephen Rubb, 2003. "Social Security's Earnings Test Penalty and the Employment Rates of Elderly Men Aged 65 to 69," Eastern Economic Journal, Eastern Economic Association, vol. 29(3), pages 415-431, Summer.
  15. Phillip B. Levine & Olivia S. Mitchell, 1991. "Expected Changes in the Workforce and Implications for Labor Markets," NBER Working Papers 3743, National Bureau of Economic Research, Inc.

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