Changing the Social Security Rules for Workers over 65: Proposed Policies and Their Effects
Alan L. Gustman
Thomas L. Steinmeier
This paper simulates the effects of proposals to modify procedures for
adjusting the Social Security benefits of those who work after normal
retirement age. A basic set of policies, currently under consideration, is
projected to raise long run costs by $30 billion dollars net of taxes,
while inducing an increase of 5 percent in the number of full-time male
workers between the ages of 65 and 69. Alternative policies may create
very different flows of funds. Outcomes, especially in the short run, will
vary widely with the timing of the application decision for benefits.
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