Longevity policy : facing up to longevity issues affecting social security, pensions, and older workers

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Bibliographic Details
Main Author: Turner, John A. 1949-
Physical Description:x, 159 pages ; 24 cm
Bibliography:Includes bibliographical references (pages 135-148) and index.
Published: Kalamazoo, Mich. : W.E. Upjohn Institute for Employment Research, 2011.
ISBN:9780880993777 (pbk. : alk. paper)
0880993774 (pbk. : alk. paper)
9780880993784 (hbk. : alk. paper)
0880993782 (hbk. : alk. paper)
Table of Contents:
  • The policy challenges of increasing longevity: paying the costs of living longer
  • Life-expectancy increases
  • This book
  • Five policy recommendations
  • Conclusions
  • Pt. 1. Labor market policy toward older workers
  • Can older workers extend their work lives? Changes in health and job requirements
  • Why work longer?
  • Health indicators affecting the ability to work at older ages
  • Factors affecting health at older ages
  • Ability to work at older ages
  • The decline in physically demanding jobs
  • Phased retirement and its relevance to raising the retirement age
  • Vulnerable workers
  • Public policy issues
  • Conclusions
  • Pt. 2. Social security policy
  • Automatic adjustment mechanisms to maintain social security's solvency
  • The problem
  • Automatic adjustment mechanisms
  • International experience with automatic adjustment mechanisms
  • Comparing the options: the pros and cons
  • Distributional consequences
  • Indexing options for U.S. social security
  • Conclusions
  • Policy recommendations
  • Raising the early retirement age
  • Views on raising the early retirement age
  • Comparable early retirement ages with increases in life expectancy
  • Fairness
  • An alternative to benefit cuts
  • International experience
  • Flexible normal retirement age
  • Raising the maximum age for actuarial adjustment of benefits
  • Policy recommendations
  • Longevity insurance benefits
  • An increasing risk of poverty with advancing age
  • Longevity insurance
  • Longevity insurance in the private sector and internationally
  • Conclusions
  • Policy recommendations
  • Pt. 3. Pension policy
  • Defined contribution plans: encouraging annuitization
  • Policies encouraging workers to annuitize
  • The use of information to affect behavior: education, framing, and advice
  • Policy recommendations
  • Defined benefit plans: flexibility to deal with increasing life expectancy
  • Effect of life-expectancy increases on defined benefit plan costs
  • Employer pension responses to increased worker longevity
  • International survey
  • A life expectancy-indexed DB plan
  • Life-expectancy indexing of fixed ages in pension law
  • Lump sum benefits in defined benefit plans
  • Policy recommendations
  • Pt. 4. Conclusion
  • Policy recommendations
  • Policy recommendations
  • Conclusions.