|Title||The Subjective Probabilities of Retirement of White, Black, and Hispanic Married Women|
|Year of Publication||1993|
|Institution||University of Michigan|
|Keywords||Expectations, Retirement Planning and Satisfaction, Women and Minorities|
Analyses by race and ethnicity of several important dimensions of labor market behavior have been constrained in the past by limited samples of black and especially of Hispanic populations in nationally representative data sets. This paper uses a partial sample from the new Health and Retirement Survey, and provides the first comparative picture of the current labor force status, accumulated labor force experience, and pension and health insurance coverage of pre-retirement non-Hispanic white, non-Hispanic black, and Hispanic married women, as well as the first insights into the factors influencing retirement decisions of black and Hispanic married women. A model of the subjective probability that married women currently working full-time will continue to work full-time after age 62 is estimated for each population. The analysis focuses on the extent to which married women, in forming retirement expectations, take account of their own economic opportunities as well as factors related to the value of their time to the family. The results provide evidence that important aspects of current compensation such as health and disability insurance, as well as expected deferred compensation in the form of pension and Social Security benefits, are significant determinants of the likelihood of continued work for each of the three populations.
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