Work attachment of men aged 58-63 fell dramatically from 1969-89, with a sharp reduction at age 62 that is probably due to Social Security's early retirement provision. Nonpension income and the interaction between private pensions, personal assets, and Social Security may also play a large role. (SK)

A comparative analysis of defined benefit pension plans that were more common before 1980s and the defined contribution plans is presented. It is observed that defined benefit pension plans offered age related incentives thereby encouraging people to retire earlier. In contrast, defined contribution plans encourage people to continue with jobs…

Analysis of a longitudinal file of collectively bargained pension plans found dramatic increases in benefit levels; reductions in early, normal, and deferred retirement ages; and declines in age at which pension values peak. Findings indicate that employer-provided pensions can and will play an important role in inducing people to remain on their…

Builds upon Lazear's empirical explanation of mandatory retirement by adding these testable implications: the relationships between mandatory retirement and (1) specific on-the-job training, (2) vested pension plans, and (3) costs of monitoring worker performance. Indicates that a comprehensive explanation requires consideration of human capital…