Health, Wealth and Workforce Exit: Disability Insurance and Individual Accounts | Zendy

Jason S. Seligman | Zendy

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Health, Wealth and Workforce Exit: Disability Insurance and Individual Accounts

Author(s) -

Jason S. Seligman

Publication year - 2005

Language(s) - English

Resource type - Reports

DOI - 10.17848/wp05-116

Subject(s) - disability insurance , social security , equity (law) , workforce , incentive , wage , labour economics , economics , actuarial science , social insurance , investment (military) , business , finance , public economics , economic growth , political science , politics , law , market economy , microeconomics

Current debate on the Social Security Administrations long-term finance of benefits includes proposals for independent private investment via individual accounts. The author first investigates what implications disability might have for equity savings account balances. In light of results, incentives to exit the workforce ahead of retirement age are considered when a defined benefit program for disability insurance continues to be available. Included simulation uses historic wage series, equity market performance, and current OASDI regulations for cohorts retiring over the period of 1929 - 2003.

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