Who Determines When You Retire? Peer Effects and Retirement

John M.R. Chalmers, Woodrow T. Johnson, Jonathan Reuter

NBER Retirement Research Center Paper No. NB 08-13
Issued in September 2008

---- Acknowledgements -----

This research was supported by the U.S. Social Security Administration through grant #10-P98363-1-05 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The findings and conclusions expressed are solely those of the author(s) and do not represent the views of SSA, any agency of the Federal Government, or the NBER. We thank employees from the Oregon Public Employees Retirement System who provided invaluable assistance to us in understanding Oregon's pension system and then collecting and interpreting the data. We also caution readers that we describe the PERS' mechanics as of the time period from which our data are gathered. The PERS system underwent major Legislative changes in late 2003 which change many of the fundamental characteristics of the system. As a result, our descriptions should not be viewed as up-to-date descriptions of the PERS system. We thank Guy Tauer from the Oregon Employment Department for his assistance in collecting data. We have received valuable comments from Martin Gruber and Andrew Biggs. The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. The views expressed herein are those of the author and do not necessarily reflect the views of the Commission or of the author's colleagues upon the staff of the Commission.

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