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Improving Information for Social Policy Decisions -- The Uses of Microsimulation Modeling Volume II, Technical Papers (1991) / Chapter Skim
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Pages 132-132

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From page 132...
... If it is run, the module's choice of retirement age for the individual overrides whatever pattern of labor force participation may have been modeled earlier in the labor force section of the Family and Earnings History submodel. The retirement module determines whether the individual retires at a given age based on eligibility for pensions and social security at that age and on the difference between the discounted stream of pension and social security benefits available if the individual retires this year relative to next year.3 The retirement module is run only on individuals age 58 and over.
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Key Terms

  • labor force
  • force participation
  • history submodel
  • security administration
  • retirement income

  • pension characteristics
  • earnings history
  • individual retires


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