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Employment Support for the Transition to Retirement: Can a New Program Help Older Workers Continue to Work and Protect Those Who Cannot?

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  • David C. Stapleton
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    Abstract

    Older workers whose employment prospects are cut short can claim reduced Social Security benefits beginning at age 62, the earliest eligibility age. This option provides a floor of protection for workers who are forced by circumstances to retire early, but it also provides benefits to people who may not have a pressing need and might be better off waiting. A leading proposal to extend working years involves increasing the earliest eligibility age for Social Security, but this proposal might inflict hardship on some older workers. The author presents a framework for a new program that could address the harm that increasing the earliest eligibility age might inflict on some older workers. The report identifies circumstances that would call for expanded assistance for workers nearing retirement if early benefits were no longer available. It also describes a range of benefits, tailored to individual needs, including wage subsidies and other work supports, health insurance subsidies, disability benefits, extended unemployment benefits, and employment counseling.

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    Bibliographic Info

    Paper provided by Mathematica Policy Research in its series Mathematica Policy Research Reports with number 6248.

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    Length: 53
    Date of creation: 30 Apr 2009
    Date of revision:
    Handle: RePEc:mpr:mprres:6248

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    Postal: Mathematica Policy Research P.O. Box 2393 Princeton, NJ 08543-2393 Attn: Communications
    Fax: (609) 799-0005
    Web page: http://www.mathematica-mpr.com/
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    Related research

    Keywords: Employment Support; Older Workers; Retirement; Disability;

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    1. Gopi Shah Goda & John Shoven & Sita Slavov, 2008. "Removing the Disincentives for Long Careers in the Social Security and Medicare Benefit Structure," Discussion Papers 08-058, Stanford Institute for Economic Policy Research.
    2. Robert A. Moffitt, 2003. "Means-Tested Transfer Programs in the United States," NBER Books, National Bureau of Economic Research, Inc, number moff03-1, May.
    3. Richard W. Johnson & Gordon B.T. Mermin & Dan Murphy, 2007. "The Impact of Late-Career Health and Employment Shocks on Social Security and Other Wealth," Working Papers, Center for Retirement Research at Boston College wp2007-26, Center for Retirement Research, revised Dec 2007.
    4. Kelly Haverstick & Margarita Sapozhnikov & Robert Triest & Natalia Zhivan, 2007. "A New Approach to Raising Social Security's Earliest Eligibility Age," Working Papers, Center for Retirement Research at Boston College wp2007-19, Center for Retirement Research, revised Oct 2007.
    5. Robert A. Moffitt, 2003. "Introduction to "Means-Tested Transfer Programs in the United States"," NBER Chapters, in: Means-Tested Transfer Programs in the United States, pages 1-14 National Bureau of Economic Research, Inc.
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