Archive: Giovanni Mastrobuoni
The brief’s key findings are: Social Security’s annual Statement of estimated benefits at different ages helps people plan for retirement. Those receiving it are more likely to provide an estimate of their benefits, and their estimates tend to be more accurate. The Statement does not appear to change retirement behavior; further research is needed to…
Abstract In 1995, the Social Security Administration started sending out the annual Social Security Statement. It contains information about the worker’s estimated benefits at the ages 62, 65, and 70. I use this unique natural experiment to analyze the retirement and claiming decision-making. First, I find that, despite the previous availability of information, the Statement…
