Work after Retirement: Worklife Transitions of Career Public Employess

Abstract

The authors gratefully acknowledge funding from the Sloan Foundation, Grant Number 2013-10-20. The research reported here is part of an on-going project that is being conducted in partnership with the North Carolina Retirement Systems Division. The opinions and conclusions expressed herein are solely those of the authors and do not represent the opinions or policy of the North Carolina Retirement System, any other institution with which the authors are affiliated, or the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

Worker Choices About Payouts in Public Pensions

“…The deferred annuity option would give retirees more flexibility in their retirement planning and allow some to shift income from a period of continued employment in bridge jobs to later ages. Clark et al (2015) illustrate the importance of bridge jobs and work after retirement for public retirees in North Carolina. This adjustment to the timing of retirement income could also help retirees finance health care costs, which often rise with advancing age, and provide increased protection against the erosive effect of inflation over 20 or 30 years in retirement.…”