Ralph Rogalla
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View article: Optimal social security claiming behavior under lump sum incentives: Theory and evidence
Optimal social security claiming behavior under lump sum incentives: Theory and evidence Open
Many Americans claim Social Security benefits early, though this leaves them with lower monthly payments throughout retirement. We build a lifecycle model that closely tracks claiming patterns under current rules, and we use it to predict …
View article: Optimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence
Optimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence Open
People who delay claiming Social Security receive higher lifelong benefits upon retirement.We survey individuals on their willingness to delay claiming later, if they could receive a lump sum in lieu of a higher annuity payment.Using a mom…
View article: W<scp>ILL</scp> T<scp>HEY</scp> T<scp>AKE THE</scp> M<scp>ONEY AND</scp> W<scp>ORK</scp>? P<scp>EOPLE'S</scp> W<scp>ILLINGNESS TO</scp> D<scp>ELAY</scp> C<scp>LAIMING</scp> S<scp>OCIAL</scp> S<scp>ECURITY</scp> B<scp>ENEFITS FOR</scp><scp>a</scp> L<scp>UMP</scp> S<scp>UM</scp>
W<span>ILL</span> T<span>HEY</span> T<span>AKE THE</span> M<span>ONEY AND</span> W<span>ORK</span>? P<span>EOPLE'S</span> W<span>ILLINGNESS TO</span> D<span>ELAY</span> C<span>LAIMING</span> S<span>OCIAL</span> S<span>ECURITY</span> B<span>ENEFITS FOR</span><span>a</span> L<span>UMP</span> S<span>UM</span> Open
This article investigates whether exchanging Social Security delayed retirement credits, currently paid as increases in lifelong benefits, for a lump sum would induce later claiming and additional work. We show that people would voluntaril…