Retirement Outcomes in the Health and Retirement Study
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Published: 2000
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Published: 2000
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DOWNLOAD EBOOKAuthor: Alan L. Gustman
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Published: 2010
Total Pages: 0
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DOWNLOAD EBOOKThis study examines retirement outcomes in the first four waves of the 1992-1998 Health and Retirement Study. Measured retirement differs with the definition of retirement used and among various groups analyzed. Twenty-two percent of the sample report they were partially retired at some time in the first four waves. By age 65, over a fifth of the population is partially retired. Altogether, 17 percent of the sample experienced a reversal in the course of the survey, moving from a state of less work to a state of more work. The large spike in the population of men leaving non-retirement at age 65 observed in the 1969-1979 Retirement History Survey is reduced from 18 percentage point to 11 percentage points in the Health and Retirement Study, while the share leaving non-retirement at 62 has increased from 13 percentage points to 20 percentage points over time.
Author: Alan L. Gustman
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Published: 1994
Total Pages: 48
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DOWNLOAD EBOOKThis paper highlights unanswered research questions in the economics of retirement, and shows how these issues can be addressed using the new Health and Retirement Survey (HRS). Unique features of the survey are described including administrative records on earnings and social security benefits, and employer provided data on pensions and health insurance. Also collected are indicators of retirement plans, health status, family structure, income, wealth and employer policies affecting job opportunities and constraints. Data from the first wave of the HRS are used to analyze retirement outcomes and constraints shaping retirement behavior.
Author: Susann Rohwedder
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Published: 2008
Total Pages: 0
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DOWNLOAD EBOOKThere is increasing interest among policy makers in measuring well-being in ways that go beyond purely economic indicators, also with special focus on older individuals who constitute an increasing fraction of the population. However there is little consensus on which other indicators should be included. An alternative approach is to use individuals' own assessments and relate these to a rich set of covariates to find what factors influence individuals' own perceptions. This is the approach adopted in this paper, using data from the Health and Retirement Study (HRS). Retired respondents are asked how satisfying their retirement has turned out to be, how retirement years compare to pre-retirement years and whether they are worried about not having enough income to get by in retirement. I relate these self-assessed measures to a rich set of covariates to investigate which aspects weigh in individuals' perceptions. I use the longitudinal nature of the HRS to study the pathways that lead up to the observed retirement outcomes, and to examine the persistence of the outcomes over time. Bad health, changes towards worse health, social isolation and increase in social isolation lead most significantly to lower satisfaction in retirement and a greater sense of financial insecurity in retirement. A short financial planning horizon and past shocks, like unexpected large expenses or divorce, also have a noticeable negative impact.
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Published: 2007
Total Pages: 108
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DOWNLOAD EBOOKAuthor: Dhaval Dave
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Published: 2006
Total Pages: 46
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DOWNLOAD EBOOKWhile numerous studies have examined how health affects retirement behavior, few have analyzed the impact of retirement on subsequent health outcomes. This study estimates the effects of retirement on health status as measured by indicators of physical and functional limitations, illness conditions, and depression. The empirics are based on six longitudinal waves of the Health and Retirement Study, spanning 1992 through 2003. To account for biases due to unobserved selection and endogeneity, panel data methodologies are used. These are augmented by counterfactual and specification checks to gauge the robustness and plausibility of the estimates. Results indicate that complete retirement leads to a 23-29 percent increase in difficulties associated with mobility and daily activiteies, and eight percent increase in illness conditions, and an 11 percent decline in mental health. With an aging population choosing to retire at earlier ages, both Social Security and Medicare face considerable shortfalls. Eliminating the embedded incentives in Scial Security and many private pension plans, which discourage work beyond some point, and enacting policies that prolong the retirement age may be desirable, ceteris paribus. Retiring at a later age may lessen or postpone poor health outcomes for older adults, raise well-being, and reduce the utilization of health care services, particularly acute care.
Author: Tracy Ann Falba
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Published: 2000
Total Pages: 330
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Published: 1995
Total Pages: 318
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DOWNLOAD EBOOKAuthor: F. Thomas Juster
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Published: 1993
Total Pages: 45
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DOWNLOAD EBOOKAuthor: Francine Hebert Sheppard
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Published: 2016
Total Pages: 189
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DOWNLOAD EBOOK"The purpose of this cross-sectional study was to examine selected health outcomes in women aged 55 years and older during retirement and to determine whether a relationship exists between women's health outcomes and aspects of retirement, including status (part or full-time retirement), type (voluntary or forced retirement), and timing (early-prior to age 65-or on-time). This study was guided by the Roy's Adaptation Model, with health viewed as adaptations to the focal stimulus of retirement within the model's four adaptive modes: physiological, self-concept, role function, and interdependence. Eighty women aged 55 years and older who were retired at least part-time from working outside the home were recruited using convenience sampling from senior and community settings within five southeastern US states (North Carolina, Georgia, Florida, Arkansas, and Louisiana). The average age of participants was 66 years. The average retirement age was 62 years. The majority of women were white, married, non-caregivers, and resided in rural areas. Health outcomes and health conditions were collected using self-report questionnaires by participants. Health outcomes included physical function, self-assessed health, functionality, and social support. Health conditions included chronic conditions such as diabetes, chronic heart disease, and memory impairment. Differences in the proportion of women grouped by retirement type, timing, or status were examined for measures in each of the four adaptation modes. Retirement group differences were compared using one-way ANOVA and Chi-square tests. Women's retirement experiences were explored using open-ended questions. This study generated new knowledge regarding how retirement status, type, and timing relate to essential health outcomes for the fast-growing population of women retirees in the United States. Type of retirement was found to be significantly associated with variables representing all four RAM adaptive modes, with forced retirement showing poorer health outcomes compared to voluntary retirement. Retirement type may have important implications in multiple health-related aspects of what is often a lengthy two-decade retirement period for women. A greater proportion of forced retirees reported diabetes, stroke, and memory loss compared to voluntary retirees in this study. This is significant due to connections previously described in the literature between these health conditions. Forced retirement type was related to lower self-rated health, lower functionality, less participation in volunteer activities, and less emotional support from others. Women of minority race/ethnicity in this study were more likely to have forced retirements than white women. Forced retirement can create an economically-challenging situation that impacts health through a myriad of pathways including lowering self-esteem, decreasing quality of life, and decreasing health-seeking behaviors. The ability to better predict and address health changes in older women will aid in preserving their safety and independence and help offer the best quality of life for as long as possible. This new knowledge reveals useful information for clinicians and has important implications that may lead to early interventions for this population to improve health outcomes during retirement. In addition, labor or corporate employers should consider strategies that include greater job flexibility options to increase employee retention and re-evaluate current policies when planning women's retirement."--Abstract from author supplied metadata.