TY  - JOUR
AU  - Gustman,Alan L.
AU  - Steinmeier,Thomas L.
TI  - Retirement Effects of Proposals by the President's Commision to Strengthen Social Security
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10030
PY  - 2003
Y2  - October 2003
UR  - http://www.nber.org/papers/w10030
L1  - http://www.nber.org/papers/w10030.pdf
N1  - Author contact info:
Alan L. Gustman
Department of Economics
Dartmouth College
Hanover, NH  03755-3514
Tel: 603/646-2641
Fax: 603/646-2122
E-Mail: ALAN.L.GUSTMAN@DARTMOUTH.EDU

Thomas Steinmeier
Department of Economics
Texas Tech University
Lubbock, TX 79409
E-Mail: thomas.steinmeier@ttu.edu
AB  - A structural dynamic model of retirement and saving is used to simulate the retirement effects of proposals made by the President's Commission to Strengthen Social Security. Provisions reducing the growth in real benefits and increasing actuarial incentives to work reduce retirements. They more than offset increases in retirements caused by individual accounts, increased benefits for low wage workers and survivors, and reductions in the top AIME bracket. By 2075, the Commission's proposals would reduce retirements at age 62 by roughly 4 percentage points, mitigating an 8.7 percentage point trend to earlier retirement projected to reassert itself after its recent interruption.
ER  -