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

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
<record>
<leader>00000cab a2200000 4500</leader>
<controlfield tag="001">MAP20211005602</controlfield>
<controlfield tag="003">MAP</controlfield>
<controlfield tag="005">20210219145504.0</controlfield>
<controlfield tag="008">210219e20210301usa|||p |0|||b|eng d</controlfield>
<datafield tag="040" ind1=" " ind2=" ">
<subfield code="a">MAP</subfield>
<subfield code="b">spa</subfield>
<subfield code="d">MAP</subfield>
</datafield>
<datafield tag="084" ind1=" " ind2=" ">
<subfield code="a">40</subfield>
</datafield>
<datafield tag="245" ind1="0" ind2="0">
<subfield code="a">Optimal social security claiming behavior under lump sum incentives</subfield>
<subfield code="b">: theory and evidence</subfield>
<subfield code="c">Raimond Maurer...[et al.]</subfield>
</datafield>
<datafield tag="520" ind1=" " ind2=" ">
<subfield code="a">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.</subfield>
</datafield>
<datafield tag="650" ind1=" " ind2="4">
<subfield code="0">MAPA20080578107</subfield>
<subfield code="a">Seguridad Social</subfield>
</datafield>
<datafield tag="650" ind1=" " ind2="4">
<subfield code="0">MAPA20080552114</subfield>
<subfield code="a">Pensiones</subfield>
</datafield>
<datafield tag="650" ind1=" " ind2="4">
<subfield code="0">MAPA20200019183</subfield>
<subfield code="a">Anualidad variable</subfield>
</datafield>
<datafield tag="650" ind1=" " ind2="4">
<subfield code="0">MAPA20080550592</subfield>
<subfield code="a">Encuestas</subfield>
</datafield>
<datafield tag="650" ind1=" " ind2="4">
<subfield code="0">MAPA20080554927</subfield>
<subfield code="a">Jubilación</subfield>
</datafield>
<datafield tag="700" ind1="1" ind2=" ">
<subfield code="0">MAPA20080662974</subfield>
<subfield code="a">Maurer, Raimond H.</subfield>
</datafield>
<datafield tag="773" ind1="0" ind2=" ">
<subfield code="w">MAP20077000727</subfield>
<subfield code="t">The Journal of risk and insurance</subfield>
<subfield code="d">Nueva York : The American Risk and Insurance Association, 1964-</subfield>
<subfield code="x">0022-4367</subfield>
<subfield code="g">01/03/2021 Volumen 88 Número 1 - marzo 2021 , p. 5-27</subfield>
</datafield>
</record>
</collection>