Tag: Social Security benefits
Abstract Recessions affect the timing of retirement through two channels, a weaker job market and losses in household wealth. The two phenomena have opposite effects. A weaker economy causes employers to increase permanent job separations and reduce new hires, accelerating retirements that would otherwise have occurred later. Falling household wealth reduces the resources available to…
The brief’s key findings are: While Social Security beneficiaries received no COLA this year, they are still ahead of the game. The reason is that they received a larger-than-usual COLA in 2009, which took effect right after prices dropped due to the economic crisis. But individuals who turned 62 in 2009 are not so lucky…
