Do Late-Career Wages Boost Social Security More for Women than Men?
Any worker who delays claiming Social Security receives a larger monthly benefit due to the actuarial adjustment. Some claimants – particularly women, who are more likely to take time out of the labor force earlier in their careers – further increase their benefit if the extra years of earnings raise their career average earnings by displacing lower-earning years. This study uses the Health and Retirement Study (HRS) linked to earnings records to quantify the impact of women’s late-career earnings on Social Security benefits relative to men’s and, among women, by marital status and education.
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