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Retirement Incentives: The Interaction between Employer-Provided Pensions, Social Security, and Retiree Health Benefits

In: The Economic Effects of Aging in the United States and Japan

  • Robin L. Lumsdaine
  • James H. Stock
  • David A. Wise

Proposed changes in the U.S. Social Security provisions include increasing the normal retirement age from 65 to 67 and changing from 3% to 8% the increase in benefits for each year that retirement is delayed after normal retirement. The paper considers the interaction between these changes and the provisions of employer-provided pension plans. For persons with an employer-provided defined benefit plan, the conclusion is that the Social Security changes will have little effect on labor force participation, but that changes in the firm plan - like increasing the early retirement age - would have very large effects on labor force participation.

(This abstract was borrowed from another version of this item.)

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This chapter was published in:
  • Michael D. Hurd & Naohiro Yashiro, 1996. "The Economic Effects of Aging in the United States and Japan," NBER Books, National Bureau of Economic Research, Inc, number hurd96-1, July.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 8469.
    Handle: RePEc:nbr:nberch:8469
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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