Early Retirement Pension Benefits / Jeremy I. Bulow.

Format:

Book

Author/Creator:

Bulow, Jeremy I.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0654.

NBER working paper series no. w0654

Language:

English

Subjects (All):

Retirement income--United States.

Retirement income.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1981.

Cambridge : National Bureau of Economic Research, 1981.

Summary:

Early retirement options alter the accrual of pension benefits, increasing the fraction of total benefits accrued in the early years of work. This is true regardless of whether de facto no worker exercises the early retirement option. No currently used actuarial method correctly calculates the cost of an early retirement option. Early retirement options must be considered in calculating age/compensation profiles. Furthermore, the early retirement option can effectively be used to encourage less productive older workers to retire, without the firm having to reduce the nominal salary of such workers.

Notes:

Print version record

April 1981.