Plan sponsors hoping to offer their enrollees advice on retirement planning may want to take note of Social Security research from the American Enterprise Institute.
In an echo of similar explorations in recent years, the AEI study looked at the Social Security claims habits of retirees and found that many beneficiaries could earn substantially more by delaying payments.
Of course, not everyone agrees with this approach. Still, AEI's Sita Nataraj Slavov and John Shoven of Stanford University say that policy changes made during the late 1990s and early 2000s increased the upside to delaying claims. Longer lives and plummeting interest rates have added to the real benefits of waiting before you begin drawing against Social Security, they said.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
