Retirement Effects of Proposals by the President's Commision to Strengthen Social Security

Alan Gustman () and Thomas L. Steinmeier

No 10030, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: H55 J26 (search for similar items in EconPapers)
Date: 2003-10
New Economics Papers: this item is included in nep-lab and nep-pbe
Note: AG LS PE
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Citations: View citations in EconPapers (7)

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.

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Related works:
Journal Article: Retirement Effects of Proposals by the President's Commission to Strengthen Social Security (2005)
Working Paper: Retirement Effects of Proposals by the President’s Commission to Strengthen Social Security (2003)
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