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What Causes Workers to Retire Before They Plan?

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  • Alicia H. Munnell
  • Geoffrey T. Sanzenbacher
  • Matthew S. Rutledge

Abstract

This paper explores the extent to which health, employment, family, or finances are associated with earlier-than-planned retirement using the Health and Retirement Study (HRS). The importance of any shock that drives early retirement depends both on its effect on those experiencing it and its prevalence in the population; therefore, the analysis proceeds in two steps. First, a probit regression is used to determine the strength of the relationship between the shocks and earlier-than-planned retirement, controlling for individual characteristics. Second, to incorporate the prevalence of the shock, counterfactual experiments are run to determine how much early retirement would be reduced in the population if these shocks did not occur.

Suggested Citation

  • Alicia H. Munnell & Geoffrey T. Sanzenbacher & Matthew S. Rutledge, 2015. "What Causes Workers to Retire Before They Plan?," Working Papers, Center for Retirement Research at Boston College wp2015-22, Center for Retirement Research.
    • Handle: RePEc:crr:crrwps:wp2015-22
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    File URL: http://crr.bc.edu/working-papers/what-causes-workers-to-retire-before-they-plan/
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    Cited by:

    1. Ludovico Carrino & Karen Glaser & Mauricio Avendano, 2020. "Later retirement, job strain, and health: Evidence from the new State Pension age in the United Kingdom," Health Economics, John Wiley & Sons, Ltd., vol. 29(8), pages 891-912, August.
    2. Schimmel Hyde Jody & Stapleton David C., 2017. "Using the Health and Retirement Study for Disability Policy Research: A Review," Forum for Health Economics & Policy, De Gruyter, vol. 20(2), pages 1-12, December.
    3. Shengchao Yu & Kacie Seil & Junaid Maqsood, 2019. "Impact of Health on Early Retirement and Post-Retirement Income Loss among Survivors of the 11 September 2001 World Trade Center Disaster," IJERPH, MDPI, vol. 16(7), pages 1-12, April.
    4. Böckerman, Petri & Ilmakunnas, Pekka, 2020. "Do good working conditions make you work longer? Analyzing retirement decisions using linked survey and register data," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).

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