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Early Retirement Pension Benefits

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Author Info
Jeremy I. Bulow
Abstract

Early retirement options alter the accrual of pension benefits, increasing the fraction of total benefits accrued in the early years of work. This is true regardless of whether de facto no worker exercises the early retirement option. No currently used actuarial method correctly calculates the cost of an early retirement option. Early retirement options must be considered in calculating age/compensation profiles. Furthermore, the early retirement option can effectively be used to encourage less productive older workers to retire, without the firm having to reduce the nominal salary of such workers.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0654.

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Date of creation: Apr 1981
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Handle: RePEc:nbr:nberwo:0654

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References listed on IDEAS
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  1. Jeremy I. Bulow, 1979. "Analysis of Pension Funding Under Erisa," NBER Working Papers 0402, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  1. Olivia S. Mitchell & Gary S. Fields, 1981. "The Effects of Pensions and Earnings on Retirement: A Review Essay," NBER Working Papers 0772, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. David A. Wise & Robin L. Lumsdaine, 1990. "Aging and Labor Force Participation: A Review of Trends and Explanations," NBER Working Papers 3420, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1991. "Fenêtres et retraites," Annales d'Economie et de Statistique, ADRES, issue 20-21, pages 11, Octobre-m. [Downloadable!]
  4. Anthony J. Pellechio, 1981. "Social Security and the Decision to Retire," NBER Working Papers 0734, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1990. "Efficient Windows and Labor Force Reduction," NBER Working Papers 3369, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1992. "Pension Plan Provisions and Retirement: Men & Women, Medicare, and Models," NBER Working Papers 4201, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Alan L. Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, 1993. "The Role of Pensions in the Labor Market," NBER Working Papers 4295, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Edward P. Lazear, 1984. "Pensions as Severance Pay," NBER Working Papers 0944, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Alan L. Gustman & Thomas L. Steinmeier, 1988. "An Analysis Of Pension Benefit Formulas, Pension Wealth And Incentives From Pensions," NBER Working Papers 2535, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. James H. Stock & David A. Wise, 1988. "Pensions, The Option Value of Work, and Retirement," NBER Working Papers 2686, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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