MRRC Newsletter
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Page 5
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Conclusion Our policy experiment indicates that early Social Security benefit cuts would have relatively small effects on the likelihood of early retirement. If early retirement benefits were to be eliminated, more than twice as many workers in this sample would be likely to work to normal retirement age as opposed to filing for disability retirement. Thus, we conclude from these findings that Social Security early retirement benefit cuts would induce more workers to delay benefit acceptance rather than opt for disability retirement. Olivia S. Mitchell is the Executive Director of the Pension Research Council, at the Wharton School of the University of Pennsylvania, Philadelphia, PA 19104 (mitchelo@wharton.upenn.edu). John W.R. Phillips is an Economist at the Social Security Administrations Division of Policy Evaluation in Washington, DC (john.phillips@ssa.gov). Fine research assistance was provided by David McCarthy and Dan Silverman, and very helpful computational assistance by Mike Nolte. Useful comments were provided by Courtney Coile, John Gruber, Howard Iams, and Kalman Rupp. This research was conducted with support from the Michigan Retirement Research Center (MRRC) at the University of Michigan, the Population Aging Research Center at the University of Pennsylvania (Mitchell and Phillips), and the Pension Research Council at the Wharton School (Mitchell); and part of the NBER programs on Aging and Labor Economics. Support for the MRRC comes from the Social Security Administration (SSA) | |
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