scholarly journals How Does Job Loss Affect the Timing of Retirement?

2004 ◽  
Vol 3 (1) ◽  
Author(s):  
Sewin Chan ◽  
Ann H Stevens
Keyword(s):  
Older Workers ◽  
Job Loss ◽  
Financial Incentive ◽  
Displaced Workers ◽  
Health And Retirement Study ◽  
Retirement Incentives ◽  
Retirement Behavior ◽  
Employment Rates ◽  
Using Data ◽  
Retirement Study

Abstract This paper estimates the extent to which reduced employment following job loss among older workers can be explained as a response to altered pension incentives and earnings opportunities. Using data from the Health and Retirement Study, we first examine how workers’ earnings, assets, pensions and the resulting financial incentive to retire are affected by job loss. We find important effects of job loss on the main financial components of workers’ incentive to retire. We then examine retirement behavior after job loss, controlling for these changed retirement incentives, along with any additional effects of displacement not captured by retirement incentives. We find that the observed increased rates of retirement among displaced workers go far beyond these purely financial considerations. Very little of the reduced employment among older job losers can be explained by changes in wages and pension-related retirement incentives. Other barriers to reemployment may be more important explanations for the low employment rates of recently displaced older workers.

Late Career Job Loss and Retirement Behavior of Couples

2016 ◽  
Vol 39 (1) ◽  
pp. 7-28 ◽  
Author(s):  
Ajin Lee
Keyword(s):  
Social Security ◽  
Job Loss ◽  
Health And Retirement Study ◽  
Budget Constraints ◽  
Unexpected Earnings ◽  
Retirement Behavior ◽  
Using Data ◽  
Social Security Benefits ◽  
The Impact ◽  
Retirement Study

This article argues that wealth uncertainty influences when couples choose to retire. Using data from the Health and Retirement Study, I show that wives delay retirement when their husbands retire following a job loss. This effect is stronger when husbands are the primary earners, and couples are relatively poorer. This provides evidence of intra-household insurance that mitigates the impact of an unexpected earnings shock. I find that wives tend to delay retirement only until they become eligible for social security. This suggests that social security benefits can relax households’ budget constraints and allow wives to join their husbands in retirement.

scholarly journals EMPLOYMENT AFTER NORMAL RETIREMENT AGE: EMPLOYERS’ MOTIVES AND EXPERIENCES

2019 ◽  
Vol 3 (Supplement_1) ◽  
pp. S129-S130
Author(s):  
Jaap Oude Mulders
Keyword(s):  
Older Workers ◽  
Population Aging ◽  
Developed Countries ◽  
Mandatory Retirement ◽  
Retirement Age ◽  
Opportunity Structures ◽  
Labor Market Dynamics ◽  
Employment Rates ◽  
Using Data ◽  
Retirement Systems

Abstract Due to population aging, older workers in developed countries are working much longer than previous cohorts. Some older workers even extend their careers beyond normal retirement age – or the age that is traditionally associated with retirement. While earlier work has studied employees’ motives and experiences while working after normal retirement age, motives and experiences of employers remain unexplored. Understanding employers’ perspectives is imperative for a better grasp of employees’ opportunity structures and labor market dynamics. This is especially relevant in countries with mandatory retirement systems, since here employer and employee need to negotiate a new contract after normal retirement age. I study employers’ motives to and experiences with employing older workers after normal retirement age using data from a 2017 survey among 1,312 Dutch employers. The Netherlands has mandatory retirement regulations but is also seeing an increase in employment rates after normal retirement age. Results show that 54% of employers have, in recent years, employed one or more older workers beyond their normal retirement age. This is especially common in education. 70% of employers are very positive about their previous experiences with employing older workers after normal retirement age, mostly because they had rehired older workers with unique knowledge and experience. However, employers also hardly ever took the initiative for such employment arrangements, instead leaving it to the older workers to show the desire to continue working. Although employers are largely positive, they see it as a limited phenomenon, and do not consider it a solution to labor shortages.

scholarly journals Job Strain, Workplace Discrimination, and Hypertension Among Older Workers: The Health and Retirement Study

2011 ◽  
Vol 3 (1) ◽  
pp. 38-50 ◽  
Author(s):  
Briana Mezuk ◽  
Kiarri N. Kershaw ◽  
Darrell Hudson ◽  
Kyuang Ah Lim ◽  
Scott Ratliff
Keyword(s):  
Older Workers ◽  
Job Strain ◽  
Workplace Discrimination ◽  
Health And Retirement Study ◽  
Retirement Study

scholarly journals The Impact of Technological Change on Older Workers: Evidence from Data on Computer Use

ILR Review ◽  
2003 ◽  
Vol 56 (3) ◽  
pp. 511-529 ◽  
Author(s):  
Leora Friedberg
Keyword(s):  
Older Workers ◽  
Population Survey ◽  
New Technologies ◽  
Baby Boom ◽  
Computer Users ◽  
Skill Requirements ◽  
Using Data ◽  
The Impact ◽  
The Empirical Analysis ◽  
Retirement Study

New technologies like computers alter skill requirements. This paper explores two related effects of the spread of computers on older workers, using data from the Current Population Survey and the Health and Retirement Study. One conclusion is that impending retirement, rather than age alone, explains why older workers used computers less than prime-age workers did. A second conclusion is that computer users retired later than non-users. Although this pattern may arise because workers planning later retirement decided to acquire computer skills, the empirical analysis suggests that the causation also went in the other direction, with computer users choosing to delay retirement. It will be important to understand these effects as the baby boom cohort nears retirement, while technologies continue to change rapidly.

scholarly journals Does Relationship End Precede Cognitive Decline? An Analysis of the Health and Retirement Study

2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 282-282
Author(s):  
Douglas Hanes ◽  
Sean Clouston
Keyword(s):  
Cognitive Decline ◽  
Distributed Cognition ◽  
Daily Living ◽  
Neuropsychiatric Symptoms ◽  
Health And Retirement Study ◽  
Relationship Termination ◽  
Cognitive Depletion ◽  
Using Data ◽  
Mental And Physical Health ◽  
Retirement Study

Abstract Relationship status is thought to be associated with cognitive health in older adults, with married persons performing better on memory assessments than unmarried-cohabitating, single, divorced, and widowed persons. However, questions remain about whether relationship termination causes cognitive decline, is a result of it, or whether they share a cause; and the mechanisms by which such a relationship might operate. To address this gap in the literature, we hypothesized that relationship termination could affect cognition via the following five pathways: (1) post-termination depression; (2) loss of distributed-cognition partner; (3) cognitive depletion from caring for partner in declining and ultimately terminal health; (4) divorce to preserve assets to qualify for Medicaid to cover healthcare for cognitive decline; and (5) post-termination changes in neuropsychiatric symptoms alongside a pre-existing neurodegenerative condition that also causes cognitive decline. Using data from the 2000–2016 waves of the Health and Retirement Study (HRS; N = 23,393), we found that relationship termination, whether due to divorce or widowhood, was associated with cognitive decline. Using mixed-effects regression we found that the rate of cognitive decline increased after relationship termination (widowhood: □ = -0.587, p <0.001; divorce: □ = -0.221, p <0.001), supporting mechanism (5). Using HRS data for respondents and their spouses’ mental and physical health, health insurance, and activities of daily living, we also find support for mechanisms (1) and (3). Relationship termination is a critical juncture in a person’s life course that has multiple implications and may, ultimately, worsen patients’ conditions.

The Changing Face of Debt and Financial Fragility at Older Ages

2018 ◽  
Vol 108 ◽  
pp. 407-411 ◽  
Author(s):  
Annamaria Lusardi ◽  
Olivia S. Mitchell ◽  
Noemi Oggero
Keyword(s):  
Policy Implications ◽  
Financial Fragility ◽  
Health And Retirement Study ◽  
Older Individuals ◽  
Older Americans ◽  
Down Payments ◽  
Using Data ◽  
Retirement Study

We investigate changes in older individuals' financial fragility as they stand on the verge of retirement. Using data from the Health and Retirement Study (HRS), we compare how debt has changed for successive cohorts of people age 56–61. Our analysis shows that recent older Americans close to retirement hold more debt, and hence face greater financial insecurity, than earlier generations. This is primarily due to having bought more expensive homes with smaller down payments. We discuss possible policy implications.

scholarly journals Testing the Missing Mechanism of Demographic and Health Variables in the Health and Retirement Study

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 509-509
Author(s):  
Peiyi Lu ◽  
Mack Shelley
Keyword(s):  
Missing Data ◽  
Missing Values ◽  
Auxiliary Information ◽  
Missing At Random ◽  
Nonparametric Tests ◽  
Drop Out ◽  
Health And Retirement Study ◽  
Statistical Justification ◽  
Using Data ◽  
Retirement Study

Abstract Studies using data from longitudinal health survey of older adults usually assumed the data were missing completely at random (MCAR) or missing at random (MAR). Thus subsequent analyses used multiple imputation or likelihood-based method to handle missing data. However, little existing research actually examines whether the data met the MCAR/MAR assumptions before performing data analyses. This study first summarized the commonly used statistical methods to test missing mechanism and discussed their application conditions. Then using two-wave longitudinal data from the Health and Retirement Study (HRS; wave 2014-2015 and wave 2016-2017; N=18,747), this study applied different approaches to test the missing mechanism of several demographic and health variables. These approaches included Little’s test, logistic regression method, nonparametric tests, false discovery rate, and others. Results indicated the data did not meet the MCAR assumption even though they had a very low rate of missing values. Demographic variables provided good auxiliary information for health variables. Health measures (e.g., self-reported health, activity of daily life, depressive symptoms) met the MAR assumptions. Older respondents could drop out and die in the longitudinal survey, but attrition did not significantly affect the MAR assumption. Our findings supported the MAR assumptions for the demographic and health variables in HRS, and therefore provided statistical justification to HRS researchers about using imputation or likelihood-based methods to deal with missing data. However, researchers are strongly encouraged to test the missing mechanism of the specific variables/data they choose when using a new dataset.

scholarly journals Multimorbidity and the Transition Out of Full-Time Paid Employment: A Longitudinal Analysis of the Health and Retirement Study

2019 ◽  
Vol 75 (3) ◽  
pp. 705-715 ◽  
Author(s):  
Sander K R van Zon ◽  
Sijmen A Reijneveld ◽  
Anne Galaurchi ◽  
Carlos F Mendes de Leon ◽  
Josué Almansa ◽  
...  
Keyword(s):  
Older Workers ◽  
Chronic Health Condition ◽  
Health Condition ◽  
Health And Retirement Study ◽  
Full Time ◽  
Chronic Health ◽  
Paid Employment ◽  
Increased Risk ◽  
Retirement Study ◽  
Partial Retirement

Abstract Objectives This study aims to examine whether older workers aged 50–64 years with multimorbidity are at increased risk to transition from full-time paid employment to part-time employment, partial retirement, unemployment, disability, economic inactivity, full retirement or die than workers without a chronic health condition and workers with one chronic health condition, and whether socioeconomic position (SEP) modifies these transitions. Method Using data from the Health and Retirement Study (1992–2014; n = 10,719), sub-distribution hazard ratios with 95% confidence intervals were calculated with a time-varying Fine and Gray competing-risks survival regression model to examine exit from full-time paid employment. We investigated the modifying effect of SEP by examining its interaction with multimorbidity. Results Workers with multimorbidity had a higher risk of transitioning to partial retirement (1.45; 1.22, 1.72), disability (1.84; 1.21, 2.78) and full retirement (1.63; 1.47, 1.81), and they had a higher mortality risk (2.58; 1.71, 3.88) than workers without chronic disorders. Compared to workers with one chronic health condition, workers with multimorbidity had an increased risk for partial (1.19; 1.02, 1.40) and full retirement (1.29; 1.17, 1.42), and mortality (1.49; 1.09, 2.04). Only SEP measured as educational level modified the relationship between multimorbidity and mortality. Discussion Workers with multimorbidity seem more prone to leave full-time paid employment than workers without or with one a chronic health condition. Personalized work accommodations may be necessary to help workers with multimorbidity prolong their working life.

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