Public Pension Design and Household Retirement Decisions: A Comparison of the United States and Germany

Social Security provides retirement benefits to age-eligible workers and their spouses. Benefits are permanently increased if initial receipt is delayed. For benefits paid to spouses, these incentives reflect a complex interaction of the worker’s and spouse’s earnings histories, benefit claiming…

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The Impact of Growing Health and Mortality Inequalities on Lifetime Social Security Payouts

The prevalence of obesity, diabetes, and other health problems has increased in recent decades in the United States, and there is a growing gap between the health and longevity of individuals with high socioeconomic status (SES) and low SES. These…

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Which Households Benefit from Delayed Claiming?

Using administrative data, this project will quantify the incentive effects and equity of the Social Security survivor benefit. The project will first analyze incentive effects on the timing of initial claiming of retired-worker benefits by both spouses. The survivor benefit…

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Winter 2020 Newsletter: Panel offers a tune up for SSA trustees’ report

Every year the Social Security Administration’s Board of Trustees and the Office of the Chief Actuary (OCACT) produce a report on the health of the Old Age and Survivors Insurance and Disability Insurance (OASDI) trust funds. OCACT’s projections rest on…

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Interest Rate Trends in a Global Context

Long-term interest rates have been falling globally since the early 1980s and have reached historically low levels. Past forecasts largely missed this secular decline. This paper reviews methodologies for making long-term interest rate projections. We synthesize results from studies that…

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