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Underfunded Public Sector Pension Plans, Social Security Participation, and the Retirement Decisions of Public Employees
Michigan Retirement and Disability Research Center, Univ. of Michigan Link to more items from this source
Aug. 12, 2021

"Participants at the key pre-retirement age categories that are also covered by Social Security are much more likely to retire than those without Social Security in the same age group. The economic magnitude of the effect is on par with the increased probability of retirement due to poor health. Depending on the particular age group, having Social Security coverage approximately doubles these retirement probabilities.... Public employee retirement decisions are sensitive to plan underfunding and sustainability -- the probability of retirement falls as plan underfunding increases. This effect is smaller than the influence of plan features."

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