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

Robin L. Lumsdaine, James H. Stock and David Wise ()

No 4613, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: J14 J26 (search for similar items in EconPapers)
Date: 1994-01
Note: AG LS PE
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Chapter: Retirement Incentives: The Interaction between Employer-Provided Pensions, Social Security, and Retiree Health Benefits (1996)
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