Tag: retirement age
Abstract This project uses the Survey of Income and Program Participation to examine the decision to retire after job separation among the increasing number of older individuals who leave a job between 55 and 70, and how this decision varies by labor market conditions and the resources available to the unemployed. Among individuals whose jobless…
The brief’s key findings are: Due to increases in Social Security’s Delayed Retirement Credit, the effective retirement age is now 70, with monthly benefits reduced for earlier claiming. Benefit levels at 70 appear appropriate given that rising deductions for Medicare and greater benefit taxation have reduced Social Security’s net replacement rates. The shift to 70 should b…
