TY - JOUR
T1 - Early Social Security Claiming and Old-Age Poverty
T2 - Evidence from the Introduction of the Social Security Early Eligibility Age
AU - Engelhardt, Gary V.
AU - Gruber, Jonathan
AU - Kumar, Anil
N1 - Funding Information:
Funding Organization: The research reported herein was supported by the Center for
PY - 2020
Y1 - 2020
N2 - We estimate the impact of the Social Security early entitlement age (EEA) on later-life income, poverty, and mortality, by tracing birth cohorts of men who had access to different potential claiming ages from the Social Security Amendments of 1961, which introduced age 62 as the EEA. Based on 1968-2001 Current Population Survey data, the average claiming age fell by 1.4 years, Social Security income fell for male-headed families by 2.4% at the mean and 6% at the 25th percentile. Total family income fell, and the poverty rate rose by about one percentage point. Finally, mortality rates fell modestly in retirement.
AB - We estimate the impact of the Social Security early entitlement age (EEA) on later-life income, poverty, and mortality, by tracing birth cohorts of men who had access to different potential claiming ages from the Social Security Amendments of 1961, which introduced age 62 as the EEA. Based on 1968-2001 Current Population Survey data, the average claiming age fell by 1.4 years, Social Security income fell for male-headed families by 2.4% at the mean and 6% at the 25th percentile. Total family income fell, and the poverty rate rose by about one percentage point. Finally, mortality rates fell modestly in retirement.
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U2 - 10.3368/jhr.57.4.0119-9973R1
DO - 10.3368/jhr.57.4.0119-9973R1
M3 - Article
AN - SCOPUS:85096525744
SN - 0022-166X
VL - 57
SP - 1
EP - 59
JO - Journal of Human Resources
JF - Journal of Human Resources
IS - 4
ER -