Modeling behavioral responses to eliminating the retirement earnings test.

Q3 Social Sciences Social Security Bulletin Pub Date : 2013-01-01
Anya Olsen, Kathleen Romig
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引用次数: 0

Abstract

The retirement earnings test (RET) is an often-misunderstood aspect of the Social Security program. Proposed RET reforms meant to encourage working at older ages could also cause earlier benefit claiming. We use Modeling Income in the Near Term data to analyze the complete repeal of the earnings test for beneficiaries aged 60 or older, first assuming no behavioral responses to repeal and secondly assuming changes to benefit claiming and workforce participation behaviors. We find that beneficiaries affected by RET repeal would generally receive significantly higher benefits when they are younger than the full retirement age (FRA), and somewhat lower benefits after reaching FRA. RET repeal would not significantly change individuals' lifetime benefits and we find no significant changes in the overall poverty rate under either scenario. We find that assumed behavioral responses-particularly the benefit claiming change--have a bigger effect on lifetime benefits than the RET policy change itself.

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对取消退休收入测试的行为反应建模。
退休收入测试(RET)是社会保障计划中一个经常被误解的方面。旨在鼓励老年人工作的退休养老金改革提案也可能导致提前领取福利。我们使用近期收入建模数据来分析完全废除60岁或以上受益人的收入测试,首先假设对废除没有行为反应,其次假设福利申请和劳动力参与行为发生变化。我们发现,受RET废除影响的受益人在低于完全退休年龄(FRA)时获得的福利通常显著较高,而在达到FRA后获得的福利则有所降低。废除退休退休计划不会显著改变个人的终身福利,我们发现在两种情况下,总体贫困率都没有显著变化。我们发现,假设的行为反应——尤其是福利要求的变化——对终身福利的影响比退休养老金政策本身的变化更大。
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来源期刊
Social Security Bulletin
Social Security Bulletin Social Sciences-Social Sciences (miscellaneous)
CiteScore
0.70
自引率
0.00%
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0
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