Does work pay at older ages?

Does work pay at older ages?

Does work pay at older ages?

Butrica

Barbara A.

Butrica, Barbara A.

Author

Author

Johnson

Richard W.

Johnson, Richard W.

Author

Author

Smith

Karen E.

Smith, Karen E.

Author

Author

Steuerle

Eugene

Steuerle, Eugene

Author

Author

text

working paper

Chestnut Hill, Mass. Center for Retirement Research at Boston College20042004monographic

Chestnut Hill, Mass.

Chestnut Hill, Mass.

Center for Retirement Research at Boston College

2004

2004

monographic

Englisheng

English

eng

electronicapplication/pdfborn digital

electronic

application/pdf

born digital

Encouraging work at older ages is a critical policy goal for an aging society, but many features of the current system of benefits and taxes provide strong work disincentives. The implicit tax rate on work increases rapidly at older ages, approaching 50 percent for some workers by age 70. In addition, by age 65 people can typically receive nearly as much in retirement as they can by working. If older Americans could overcome these barriers and delay retirement, they could substantially improve their economic well-being at older ages. For example, many people could increase their annual consumption at older ages by more than 25 percent by simply retiring at age 67 instead of age 62.

Barbara A. Butrica, Richard W. Johnson, Karen E. Smith, and Eugene Steuerle.

CRR WP2004-30

CRR WP2004-30

CRR WP

2004-30

http://crr.bc.edu/images/stories/Working_Papers/wp_2004-30.pdf

MChBEnglisheng

MChB

Englisheng

English

eng