Tag: introduction of the Social Security Statement

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The Role of Information for Retirement Behavior: Evidence Based on the Stepwise Introduction of the Social Security Statement

Working Paper by

October 29, 2009

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…