Tag: early claiming
The brief’s key findings are: The severity of the Great Recession is projected to have increased the probability of claiming Social Security at age 62 by more than 5 percentage points. This increase was relatively uniform across the income spectrum. The affected individuals claimed six months earlier, resulting in a 4.6 percent reduction in monthly…
Abstract During the Great Recession, more older workers have claimed Social Security benefits early. This paper addresses two important policy questions: Who are these early claimers? How much retirement income have they lost as a result of claiming early? Using the Health and Retirement Study (HRS) we estimate a discrete-time hazard model that makes claiming…
