Optimal social security claiming behavior under lump sum incentives : theory and evidence
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.
Registros relacionados: En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 01/03/2021 Volumen 88 Número 1 - marzo 2021 , p. 5-27
Autores secundários: Maurer, Raimond H.
Outras classificações: 40
Direitos: In Copyright (InC): http://rightsstatements.org/vocab/InC/1.0/