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Changing the Social Security Rules for Workers over 65: Proposed Policies and Their Effects

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  • Alan L. Gustman
  • Thomas L. Steinmeier

Abstract

This paper simulates the effects of proposals to modify procedures for adjusting the Social Security benefits of those who work after normal retirement age. A basic set of policies, currently under consideration, is projected to raise long run costs by $30 billion dollars net of taxes, while inducing an increase of 5 percent in the number of full-time male workers between the ages of 65 and 69. Alternative policies may create very different flows of funds. Outcomes, especially in the short run, will vary widely with the timing of the application decision for benefits.

Suggested Citation

  • Alan L. Gustman & Thomas L. Steinmeier, 1989. "Changing the Social Security Rules for Workers over 65: Proposed Policies and Their Effects," NBER Working Papers 3087, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:3087 Note: LS
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    References listed on IDEAS

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    1. Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Structural Retirement Model," Econometrica, Econometric Society, vol. 54(3), pages 555-584, May.
    2. repec:hoo:wpaper:e-88-28 is not listed on IDEAS
    3. Alan L. Gustman & Thomas L. Steinmeier, 1982. "Partial Retirement and Wage Profiles of Older Workers," NBER Working Papers 1000, National Bureau of Economic Research, Inc.
    4. Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, vol. 58(5), pages 1151-1180, September.
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