Retirement Effects of Proposals by the President's Commision to Strengthen Social Security
A structural dynamic model of retirement and saving is used to simulate the retirement effects of proposals made by the President's Commission to Strengthen Social Security. Provisions reducing the growth in real benefits and increasing actuarial incentives to work reduce retirements. They more than offset increases in retirements caused by individual accounts, increased benefits for low wage workers and survivors, and reductions in the top AIME bracket. By 2075, the Commission's proposals would reduce retirements at age 62 by roughly 4 percentage points, mitigating an 8.7 percentage point trend to earlier retirement projected to reassert itself after its recent interruption.
|Date of creation:||Oct 2003|
|Date of revision:|
|Publication status:||published as Gustman, Alan L. and Thomas L. Steinmeier. "Retirement Effects Of Proposals By The President's Commission To Strengthen Social Security," National Tax Journal, 2005, v58(1,Mar), 27-49.|
|Note:||AG LS PE|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alan L. Gustman & Thomas L. Steinmeier, 2002.
"The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth,"
wp029, University of Michigan, Michigan Retirement Research Center.
- Gustman, Alan L. & Steinmeier, Thomas L., 2005. "The social security early entitlement age in a structural model of retirement and wealth," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 441-463, February.
- Alan L. Gustman & Thomas L. Steinmeier, 2002. "The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth," NBER Working Papers 9183, National Bureau of Economic Research, Inc.
- Roger H. Gordon & Alan S. Blinder, 1980.
"Market wages, reservation wages, and retirement decisions,"
in: Econometric Studies in Public Finance, pages 277-308
National Bureau of Economic Research, Inc.
- Gordon, Roger H. & Blinder, Alan S., 1980. "Market wages, reservation wages, and retirement decisions," Journal of Public Economics, Elsevier, vol. 14(2), pages 277-308, October.
- Roger H. Gordon & Alan S. Blinder, 1980. "Market Wages, Reservation Wages, and Retirement Decisions," NBER Working Papers 0513, National Bureau of Economic Research, Inc.
- Robin L. Lumsdaine & Olivia S. Mitchell, .
"New Developments in the Economic Analysis of Retirement,"
Pension Research Council Working Papers
98-8, Wharton School Pension Research Council, University of Pennsylvania.
- Lumsdaine, Robin L. & Mitchell, Olivia S., 1999. "New developments in the economic analysis of retirement," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 49, pages 3261-3307 Elsevier.
- Eric French, 2005.
"The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour,"
Review of Economic Studies,
Oxford University Press, vol. 72(2), pages 395-427.
- Eric French, 2000. "The effects of health, wealth, and wages on labor supply and retirement behavior," Working Paper Series WP-00-2, Federal Reserve Bank of Chicago.
- Eric French, 2004. "The Effects of Health, Wealth and Wages on Labor Supply and Retirement Behavior," 2004 Meeting Papers 96, Society for Economic Dynamics.
- Alan L. Gustman & Thomas L. Steinmeier, 2002.
"The New Social Security Commission Personal Accounts: Where Is the Investment Principal?,"
NBER Working Papers
9045, National Bureau of Economic Research, Inc.
- Alan L. Gustman & Thomas L. Steinmeier, 2002. "The New Social Security Commission Personal Accounts: Where is the Investment Principal?," Working Papers wp031, University of Michigan, Michigan Retirement Research Center.
- Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
- Gustman, Alan L & Steinmeier, Thomas L, 1985. "The 1983 Social Security Reforms and Labor Supply Adjustments of Older Individuals in the Long Run," Journal of Labor Economics, University of Chicago Press, vol. 3(2), pages 237-53, April.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:10030. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.