Social Security's Earnings Test Penalty and the Employment Rates of Elderly Men Aged 65 to 69
In 1990, the rate at which Social Security reduces benefits as a result of earnings above an annually adjusted threshold of $9,360 was reduced from 50 percent to 33 percent for individuals age 65 to 69. In all twelve difference-in-differences models, the change in Social Security's earnings test penalty has a positive but statistically insignificant impact on both the employment rate and the annual hours worked of 66 to 69 year old men relative to those in valid control groups (consistent with the substitution effect).
Volume (Year): 29 (2003)
Issue (Month): 3 (Summer)
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