Retirement and Social Security: A Time Series Approach

Abstract

The Center for Retirement Research at Boston College, part of a consortium that includes parallel centers at the University of Michigan and the National Bureau of Economic Research, was established in 1998 through a grant from the Social Security Administration. The Center's mission is to produce first-class research and forge a strong link between the academic community and decision makers in the public and private sectors around an issue of critical importance to the nation's future. To achieve this mission, the Center sponsors a wide variety of research projects, transmits new findings to a broad audience, trains new scholars, and broadens access to valuable data sources.

Does retirement improve health and life satisfaction?

“…In contrast, men and women born in 1990 can expect to live an additional 16.1 and 19.5 years, respectively. Because working lives have not kept pace with this increase in life expectancy, the length of retirement has increased (see, e.g., Cushing‐Daniels and Steuerle, , and Milligan and Wise, ). Faced with impending budget shortfalls in entitlement programs, this fact has led policymakers to raise the full retirement age for collecting some retirement benefits and increased interest in policies that further extend working lives.…”

Does Retirement Improve Health and Life Satisfaction?

“…In contrast, men and women born in 1990 can expect to live an additional 16.1 and 19.5 years, respectively. 1 Since working lives have not kept pace with this increase in life expectancy, the length of retirement has increased (see, e.g., Cushing-Daniels and Steuerle (2009); Milligan and Wise (2012)).…”

Gender Differences in Postretirement Employment

“…This arrangement produced a more varied employment history for married women due to caregiving obligations (Taniguchi and Rosenfeld 2002). Overall, married women experience lower rates of employment compared with married men and unmarried women (Cushing-Daniels and Steuerle 2009). Therefore, we would expect that late-life employment experiences would differ along lines of both gender and marital status, especially for the cohort of Americans approaching retirement age in the 1990s.…”