Timing of Social Security Acceptance by Older Men: Examining the Financial Incentives

摘要

The ways in which particular features of the social security program create incentives to begin taking benefits at a certain ages are discussed. Previous empirical studies concerning the factors that influence the age of social security benefit acceptance are reviewed, and the two features of the program that affect the timing of benefit acceptance -- the earnings test and actuarial adjustments in benefits -- are analyzed. The effect of the actuarial adjustment on social security wealth is examined, and benefit recomputations for additional earnings are explored.