Working for a Good Retirement

Barbara A. Butrica, Karen E. Smith, C. Eugene Steuerle and Lucie G. Schmidt

Chapter 6 in Government Spending on the Elderly, 2007, pp 141-177 from Palgrave Macmillan

Abstract: Abstract One way of relieving the economic pressures created by an aging population is to encourage workers to delay retirement. When people leave the workforce, they forgo earnings. To replace these earnings, many retirees begin collecting pensions and/or drawing down their assets. Most retirees also begin collecting Social Security benefits. At the same time, retirees pay fewer taxes — not just payroll taxes that support Social Security, but also federal, state, and local income taxes that support other government programs. Thus, the retirement of the boomer generation, some 76 million people, is expected to have a large impact on individuals, the retirement system, and the economy.

Keywords: Social Security; Social Security Benefit; Define Contribution; Define Benefit; Retirement Behavior (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230591448_6

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