Optimal social security claiming behavior under lump sum incentives : theory and evidence

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Título: Optimal social security claiming behavior under lump sum incentives : theory and evidence / Raimond Maurer...[et al.]

Notas: Sumario: Many Americans claim Social Security benefits early, though this e aves them with lower monthly payments throughout retirement. We build a lifecycle model that closely tracks claiming patterns under rules, and we use it to predict claiming delays if, by delaying benefits, people were to receive a lump sum instead of an annuity. We predict that current early claimers would defer claiming by a year given actuarially fair lump sums, and the predictions conform with respondents' answers to a strategic survey about the lump sum. In other words, such a reform could provide an avenue for encouraging delayed retirement without benefit cuts or tax increases. Moreover, many people would still defer claiming even for smaller lump sums.

Autores secundários: Maurer, Raimond H.

Outras classificações: 40

Direitos: In Copyright (InC): http://rightsstatements.org/vocab/InC/1.0/