Retirement and the Evolution of Pension Structure

@inproceedings{Friedberg2003RetirementAT,
  title={Retirement and the Evolution of Pension Structure},
  author={Leora Friedberg and Anthony Webb},
  year={2003}
}
Defined benefit pension plans have become considerably less common since the early 1980s, while defined contribution plans have spread. Previous research showed that defined benefit plans, with sharp incentives encouraging retirement after a certain point, contributed to the striking postwar decline in American retirement ages. In this paper we find that the absence of age-related incentives in defined contribution plans leads workers to retire almost two years later on average, compared to… CONTINUE READING

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