@article {5899,
	title = {Social Security and Retirement Programs Around the World: The Capacity to Work at Older Ages - Introduction and Summary},
	year = {2016},
	institution = {Cambridge, MA: National Bureau of Economic Research},
	abstract = {This is the introduction and summary to the seventh phase of an ongoing project on Social Security Programs and Retirement Around the World. The project compares the experiences of a dozen developed countries and uses differences in their retirement program provisions to explore the effect of SS on retirement and related questions. The first three phases of this project document that: 1) incentives for retirement from SS are strongly correlated with labor force participation rates across countries; 2) within countries, workers with stronger incentives to delay retirement are more likely to do so; and 3) changes to SS could have substantial effects on labor force participation and government finances. The fourth volume explores whether higher employment among older persons might increase youth unemployment and finds no link between the two. The fifth and sixth volumes focus on the disability insurance (DI) program, finding that changes in DI participation are more closely linked to DI reforms than to changes in health and that reducing access to DI would raise labor supply.  This seventh phase of the project explores whether older people are healthy enough to work longer. We use two main methods to estimate the health capacity to work, asking how much older individuals today could work if they worked as much as those with the same mortality rate in the past or as younger individuals in similar health. Both methods suggest there is significant additional health capacity to work at older ages.},
	keywords = {Disabilities, Employment and Labor Force, Public Policy, Retirement Planning and Satisfaction, Social Security},
	url = {https://www.nber.org/papers/w21939},
	author = {Courtney Coile and Kevin Milligan and David A Wise}
}
@article {VENTI2015133,
	title = {The long reach of education: Early retirement},
	journal = {The Journal of the Economics of Ageing},
	volume = {6},
	year = {2015},
	pages = {133 - 148},
	abstract = {The goal of this paper is to draw attention to the long lasting effect of education on economic outcomes. We use the relationship between education and two routes to early retirement {\textendash} the receipt of Social Security Disability Insurance (DI) and the early claiming of Social Security retirement benefits {\textendash} to illustrate the long-lasting influence of education. We find that for both men and women with less than a high school degree the median DI participation rate is 6.6 times the participation rate for those with a college degree or more. Similarly, men and women with less than a high school education are over 25 percentage points more likely to claim Social Security benefits early than those with a college degree or more. We focus on four critical {\textquotedblleft}pathways{\textquotedblright} through which education may indirectly influence early retirement {\textendash} health, employment, earnings, and the accumulation of assets. We find that for women health is the dominant pathway through which education influences DI participation. For men, the health, earnings, and wealth pathways are of roughly equal magnitude. For both men and women the principal channel through which education influences early Social Security claiming decisions is the earnings pathway. We also consider the direct effect of education that does not operate through these pathways. The direct effect of education is much greater for early claiming of Social Security benefits than for DI participation, accounting for 72\% of the effect of education for men and 67\% for women. For women the direct effect of education on DI participation is not statistically significant, suggesting that the total effect may be through the four pathways.},
	keywords = {disability insurance, Education, Retirement, Social Security},
	issn = {2212-828X},
	doi = {https://doi.org/10.1016/j.jeoa.2015.08.001},
	url = {http://www.sciencedirect.com/science/article/pii/S2212828X15000201},
	author = {Steven F Venti and David A Wise}
}
@article {NBERw20120,
	title = {Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement - Introduction and Summary},
	year = {2014},
	institution = {NBER},
	abstract = {This is the introduction and summary to the sixth phase of an ongoing project on Social Security Programs and Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the strong relationship across countries between social security incentives to retire and the proportion of older persons out of the labor force. The second phase documented the large effects that changing plan provisions would have on the labor force participation of older workers. The third phase demonstrated the consequent fiscal implications that extending labor force participation would have on net program costs{\textendash}reducing government social security benefit payments and increasing government tax revenues. The fourth phase presented analyses of the relationship between the labor force participation of older persons and the labor force participation of younger persons in twelve countries. We found no evidence that increasing the employment of older persons will reduce the employment opportunities of youth and no evidence that increasing the employment of older persons will increase the unemployment of youth. The fifth phase on "Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms" was intended to set the stage for this current phase. This sixth phase of the ongoing ISS project is particularly related to the fifth phase (Wise, 2012) and the second phase (Gruber and Wise, 2004) of the project. This volume continues the focus of the previous volume on DI programs while extending the methodology to study retirement behavior used in the second phase to focus in particular on the effects of the DI programs. The key question this volume seeks to address is: given health status, to what extent are differences in labor force participation across countries determined by the provisions of disability insurance programs?},
	keywords = {Social Security},
	doi = {10.3386/w20120},
	url = {http://www.nber.org/papers/w20120},
	author = {Courtney Coile and Kevin Milligan and David A Wise}
}
@inbook {5236,
	title = {Fiscal Effects of Social Security Reform in the United States},
	booktitle = {Social Security Programs and Retirement around the World},
	series = {A National Bureau of Economic Research conference report},
	year = {2010},
	pages = {503-531},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	chapter = {12},
	address = {Chicago},
	keywords = {Other, Public Policy, Social Security},
	author = {Courtney Coile and Gruber, Jonathan},
	editor = {Gruber, Jonathan and David A Wise}
}
@inbook {5229,
	title = {Work Disability: The Effects of Demography, Health, and Disability Insurance},
	booktitle = {Research Findings in the Economics of Aging},
	series = {National Bureau of Economic Research conference report},
	year = {2010},
	pages = {37-58},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	chapter = {2},
	address = {Chicago},
	keywords = {Cross-National, Disabilities, Employment and Labor Force, Social Security},
	author = {Axel Borsch-Supan},
	editor = {David A Wise}
}
@inbook {NBERc4543,
	title = {Reducing Social Security PRA Risk at the Individual Level: Life-Cycle Funds and No-Loss Strategies},
	booktitle = {Social Security Policy in a Changing Environment},
	year = {2009},
	pages = {255-292},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	abstract = {Retirement savers in a Social Security system with a personal retirement
account (PRA) component would face the challenge of deciding how to allocate their PRA portfolios across a broad range of asset classes and across
many different financial products. Asset allocation decisions have important consequences for retirement wealth accumulation because they affect
the expenses of investing as well as the risk of low returns. The goal of this
chapter is to assess the relative risk associated with alternative asset allocation strategies in PRAs. It also offers insight on the consequences of
different asset allocation rules in current private-sector defined contribution (DC) plans, such as 401(k) plans.
Quantifying the risk associated with },
	keywords = {Social Security},
	url = {http://www.nber.org/chapters/c4543},
	author = {James M. Poterba and Joshua Rauh and Steven F Venti and David A Wise}
}
@article {6717,
	title = {Saver Behavior and 401(k) Retirement Wealth},
	journal = {American Economic Review},
	volume = {90},
	year = {2000},
	note = {RDA 1999-002},
	pages = {297-302},
	publisher = {90},
	abstract = { Contributions to 401(k) plans are now the most
 important form of retirement saving. Since 401(k)
 plans were introduced in the early 1980{\textquoteright}s, they
 have expanded rapidly and continuously. By
 1998, roughly half of all households were eligible
 to participate in 401(k) plans, and more than 36
 million workers made contributions to these
 employer-provided saving plans. In 1995, the last
 year for which the U.S. Department of Labor
 has released definitive data, 401(k) contribu-
 tions amounted to $87.4 billion, or 55 percent of
 all contributions to employer-sponsored pension
 plans. The level of contributions, and their share
 of all pension contributions, is probably signifi-
 cantly higher today.
 The spread of 401(k) plans is the most
 important indicator of the move to personal
 retirement saving. In 1980, almost 92 percent
 of pension-plan contributions were to tradi-
 tional employer-provided plans, and about
 64 percent of these contributions were to
 conventional defined-benefit plans. Today,
 almost 60 percent of contributions are to
 personal retirement accounts, including 401(k),
 IRA, and Keogh plans. Including employer-
 provided, non-40 1 (k) defined-contribution
 plans, over 76 percent of contributions are to
 plans that are controlled in large measure by
 individuals. These individuals make partici-
 pation, contribution, asset-allocation, and
 withdrawal decisions.
 In this paper, we describe the likely impor-
 tance of 401(k) assets for future older Ameri-
 cans and the effect of investment decisions on
 asset accumulation. We also examine the extent
 to which retirement assets may be affected by
 several decisions: preretirement withdrawals,
 management fees and expenses, contribution
 rates, and early retirement. Our analysis focuses
 on 401(k) saving, but applies more broadly to
 other forms of individual retirement saving.},
	keywords = {Consumption and Savings, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction, Social Security},
	url = {https://www.jstor.org/stable/117239?seq=1},
	author = {James M. Poterba and Steven F Venti and David A Wise}
}
