Pension Plan Provisions and Retirement: Men & Women, Medicare, and Models / Robin L. Lumsdaine, James H. Stock, David A. Wise.

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Lumsdaine, Robin L

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w4201.Publication details: Cambridge, Mass. National Bureau of Economic Research 1992.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: The ongoing analysis of the effects of pension plan provisions on retirement is pursued in this paper. A primary objective of this paper is to test the validity of models previously developed and estimated with data from a Fortune 500 company, here using data from a second large company. The evidence confirms that changes in the retirement rates by age correspond closely to provisions of the firm pension plan. There is essentially no difference in the retirement behavior of men and women. As in previous work, it is found that simpler "option value model" of retirement yields very similar results to the considerably more complex stochastic dynamic programming specification. Both fit the data well and predict rather well the effect on retirement of a special retirement window plan, Some consideration is also given to the effects of firm health insurance and median coverage on retirement.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w4201 (Browse shelf(Opens below))	Not For Loan

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October 1992.

The ongoing analysis of the effects of pension plan provisions on retirement is pursued in this paper. A primary objective of this paper is to test the validity of models previously developed and estimated with data from a Fortune 500 company, here using data from a second large company. The evidence confirms that changes in the retirement rates by age correspond closely to provisions of the firm pension plan. There is essentially no difference in the retirement behavior of men and women. As in previous work, it is found that simpler "option value model" of retirement yields very similar results to the considerably more complex stochastic dynamic programming specification. Both fit the data well and predict rather well the effect on retirement of a special retirement window plan, Some consideration is also given to the effects of firm health insurance and median coverage on retirement.