| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23262 |
| 来源ID | Working Paper 23262 |
| Annuity Options in Public Pension Plans: The Curious Case of Social Security Leveling | |
| Robert L. Clark; Robert G. Hammond; Melinda S. Morrill; David Vanderweide | |
| 发表日期 | 2017-03-20 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Social Security Leveling is an annuity option that allows participants to receive a level income before and after age 62. The retiree receives a larger pension benefit prior to age 62, but then the pension benefit is lowered at age 62 when the individual is expected to claim Social Security benefits. This option is not uncommon in public pension plans, yet little is known about how this option is used in practice and its impact on well-being in retirement. Our study uses a combination of administrative records and survey data from recent North Carolina public sector retirees. We find that one-third of all retirees selecting a single life annuity between 2009 and 2014 opted for Social Security Leveling. The evidence suggests that individuals are choosing this option in a way that is consistent with their stated preferences and a consumption smoothing motive. However, we also see higher rates of ex post “regret” in the annuity choice among those choosing the level income option. |
| 主题 | Public Economics ; National Fiscal Issues ; Labor Economics ; Labor Supply and Demand ; Labor Compensation |
| URL | https://www.nber.org/papers/w23262 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580936 |
| 推荐引用方式 GB/T 7714 | Robert L. Clark,Robert G. Hammond,Melinda S. Morrill,et al. Annuity Options in Public Pension Plans: The Curious Case of Social Security Leveling. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23262.pdf（1259KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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