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Keywords:Retirement 

Journal Article
The effects of health and wealth shocks on retirement decisions

Both health status and net worth can affect retirement decisions. In some cases, early retirement may be precipitated by a shock to an individual?s health and/or economic status. The authors examine how health and wealth shocks affect retirement decisions. They use data from the Panel Study of Income Dynamics to estimate a first-differences model of health and wealth shocks on retirement over the course of the 2000s in the United States. Their results suggest that acute health shocks are associated with labor market exits for older American men but not women. These results appear particularly ...
Review , Issue Sep

Newsletter
A crack in the nest egg: are Americans doing enough to save for retirement?

Before the current recession, soaring stock prices and housing values made many Americans feel well off, and thus many were lax in saving for retirement. The current financial market downturn has erased much of the previous gains, leaving many workers unprepared for retirement.
Liber8 Economic Information Newsletter , Issue May

Journal Article
You can't take it with you: asset run-down at the end of the life cycle

This article presents evidence on the extent to which households run down their assets after retirement. The authors show that, once corrections are made for several econometric problems, households engage in very little asset decumulation after retirement.
Economic Perspectives , Volume 28 , Issue Q III , Pages 40-54

Journal Article
What Has Driven the Recent Increase in Retirements?

During the pandemic, the share of retirees in the U.S. population rose much faster than its normal pace. Typically, an increase in this share is driven by more people transitioning from employment to retirement. However, we show that the recent increase was instead driven by fewer people transitioning from retirement back into employment, likely due to pandemic-related health risks. More retirees may rejoin the workforce as these health risks fade, but the retirement share is unlikely to return to a normal level for some time.
Economic Bulletin , Issue August 11, 2021 , Pages 4

Report
Social Security, benefit claiming, and labor force participation: a quantitative general equilibrium approach

We build a general equilibrium model of overlapping generations that incorporates endogenous saving, labor force participation, work hours, and Social Security benefit claims. Using this model, we study the impact of three Social Security reforms: 1) a reduction in benefits and payroll taxes; 2) an increase in the earliest retirement age, to sixty-four from sixty-two; and 3) an increase in the normal retirement age, to sixty-eight from sixty-six. We find that a 50 percent cut in the scope of the current system significantly raises asset holdings and the labor input, primarily through higher ...
Staff Reports , Paper 436

Report
Defined contribution plans: the role of income, age and match rates

The growth of defined contribution plans has sparked debate concerning their effectiveness as a vehicle for retirement saving. Using data from the May 1993 Employee Benefits Supplement to the Current Population Survey, this paper examines whether DC plans have expanded overall pension coverage and whether their effects on retirement saving are the same across different age and income groups. Not surprisingly, I find that contributions to and early withdrawals from DC plans are strongly affected by income and age. The paper then discusses whether employer match rates are useful tools for ...
Research Paper , Paper 9517

Working Paper
Saving and Wealth Accumulation among Student Loan Borrowers: Implications for Retirement Preparedness

Borrowing for education has increased rapidly in the past several decades, such that the majority of non-housing debt on US households' balance sheets is now student loan debt. This chapter analyzes the implications of student loan borrowing for later-life economic well-being, with a focus on retirement preparation. We demonstrate that families holding student loan debt later in life have less savings than their similarly educated peers without such debt. However, these comparisons are misleading if the goal is to characterize the experience of the typical student borrower, as they fail to ...
Finance and Economics Discussion Series , Paper 2022-019

Journal Article
Social Security and Medicare: no free lunch

Southwest Economy , Issue Jan , Pages 1, 8-12

Journal Article
Look who's still working now

National Economic Trends , Issue Jun

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