Is the Adjustment of Benefits Actuarially Fair?

Adjustments to benefits for individuals who delay claiming are designed to reward work and ensure equitable treatment between those who delay and those who claim early. Over the past 20 years, Social Security claiming ages have increased and become more…

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How Would 401(k) Rothification Influence Consumption, Saving, and Social Security Claiming Behavior?

The US incentivizes retirement saving in 401(k) and similar retirement accounts by permitting workers to defer taxes on contributions; taxes are then levied only when retirees withdraw their funds. Yet the Treasury foregoes over $100B/year due to tax-deferred contributions to…

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Behavioral Effects of Social Security Policies on Benefit Claiming, Retirement and Saving

This paper specifies three behavioral variants of a structural model of retirement and saving to bring predicted Social Security claiming rates closer to the rates observed in the data. The model, estimated with Health and Retirement Study data, is used…

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Does Delay Cause Decay? The Effect of Administrative Decision Time on the Labor Force Participation and Earnings of Disability Applicants

An influential body of research studies the labor supply and earnings of denied Social Security Disability Insurance (SSDI) applicants to estimate the potential employment and earnings of those awarded benefits. This research design implicitly treats employability as a stable applicant…

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