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Working for a Good Retirement

In: Government Spending on the Elderly

Author

Listed:
  • Barbara A. Butrica
  • Karen E. Smith
  • C. Eugene Steuerle
  • Lucie G. Schmidt

Abstract

One way of relieving the economic pressures created by an aging population is to encourage workers to delay retirement. When people leave the workforce, they forgo earnings. To replace these earnings, many retirees begin collecting pensions and/or drawing down their assets. Most retirees also begin collecting Social Security benefits. At the same time, retirees pay fewer taxes — not just payroll taxes that support Social Security, but also federal, state, and local income taxes that support other government programs. Thus, the retirement of the boomer generation, some 76 million people, is expected to have a large impact on individuals, the retirement system, and the economy.

Suggested Citation

  • Barbara A. Butrica & Karen E. Smith & C. Eugene Steuerle & Lucie G. Schmidt, 2007. "Working for a Good Retirement," Palgrave Macmillan Books, in: Dimitri B. Papadimitriou (ed.), Government Spending on the Elderly, chapter 6, pages 141-177, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59144-8_6
    DOI: 10.1057/9780230591448_6
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    Cited by:

    1. Richard W. Johnson, 2011. "Phased Retirement and Workplace Flexibility for Older Adults," The ANNALS of the American Academy of Political and Social Science, , vol. 638(1), pages 68-85, November.
    2. Teresa Ghilarducci & Michael Papadopoulos & Anthony Webb, 2020. "The Illusory Benefits of Working Longer on Financial Preparedness for Retirement," SCEPA working paper series. 2020-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

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