A comparison of early retirement pensions in the United States and Russia: the pensions of musicians

Early retirement pensions for particular occupations free national policy to establish the social security early retirement age at a later age that is more appropriate for the population as a whole. This paper focuses on early retirement pensions in the United States and the Russian Federation. While comparing early retirement pensions generally, the paper provides a more detailed discussion of the pensions for musicians. While this is an unconventional group to choose for the study of pensions, study of their pensions yields insights into the principles underlying retirement age policy in the two countries.     

Flexible work schedules, older workers, and retirement

Older workers in the United States indicate that they would prefer flexible work arrangements rather than abrupt retirement, yet management has done very little to make this possible. A review of two bodies of literature from the late 1980s is presented: social science writings including sociological, gerontological, and economic literature, and business and management literature. There is a clash between the way jobs are traditionally scheduled and the needs of growing numbers of older workers. Workers continue to be subject to obstacles to phased retirement due to the structuring of health care and pension benefits, downsizing, organizational inflexibility, and "corporate culture." Thus, general views among social scientists regarding the desirability of flexible schedules toward retirement will not produce real changes unless management becomes committed to such changes and they are securely embedded in company policies.     

Employee benefits, retirement patterns, and implications for increased work life

This Issue Brief examines why policymakers are concerned about the trend toward early retirement and how it relates to Social Security, Medicare, and employee health and retirement benefits. It reviews the rationale for the effects of economic incentives on early retirement decisions and includes a summary of empirical literature on the retirement process. It presents data on how employee benefits influence workers' expected retirement patterns. Finally, it examines the implications of public policies to reverse early-retirement trends and raise the eligibility age for Social Security and Medicare. An employee Benefit Research Institute/Gallup survey indicates that there is a direct link between a worker's decision to retire early and the availability of retiree health benefits. In 1993, 61 percent of workers reported that they would not retire before becoming eligible for Medicare if their employer did not provide retiree health benefits. Participation in a pension plan can be an important determinant of retirement. Twenty-one percent of pension plan participants planned to stop working before age 65, compared with 12 percent among nonparticipants. Workers whose primary pension plan was a defined benefit plan were more likely to expect to stop working before age 65 (23 percent) than workers whose primary plan was a defined contribution plan (18 percent). Expected income replacement rates effect retirement patterns, indicating that as the expected replacement increases, the probability of expecting to stop working before age 65 increases. Twenty-two percent of workers with an expected income replacement rate below 60 percent expected to stop working before age 65, compared with 29 percent for those in the 60-69 percent replacement range, and 30 percent for those in the 70-79 percent replacement range. Workers expecting to receive retiree health insurance are more likely to expect to stop working before age 65 than workers who do not expect to have retiree health insurance. Twenty-one percent of workers with retiree health insurance expected to stop working before age 65, compared with 12 percent of workers not expecting to receive retiree health insurance. The Social Security Old-Age and Survivors Insurance (OASI) program depends on obtaining sufficient revenue from active workers' payroll taxes to fund the benefits received by retired beneficiaries. Funding the program in the past was in large part effortless because of the relatively large number of workers per retiree. Today, funding the program is a greater challenge because the ratio of workers to retirees has fallen. Policymakers have been able to agree that reform of the program is necessary for its survival; however, the debate over options to reform the program is just beginning, and it is likely to be a long time before a consensus emerges.     

Effects of work and retirement within long-term marital relationships

Long-term marriages of 21 retired working class couples were examined for the post-retirement effects on the marriage's social integration, happiness, involvement and satisfaction. Evidence suggests that marital patterns evolving in response to the work situation result in different types of relationships for dual paycheck and traditional couples. While both groups were happy, satisfied and involved in home, family and their own dyadic relationship, dual paycheck couples had more egalitarian and cooperative relationships. Their increased happiness, satisfaction and involvement are indicative of the benefits of their former dual employment.     

Convergence of long-term care planning and retirement planning at the work place

There is an increasing expectation that the private-sector should provide needed solutions to pressing problems in long-term care. Long-term care insurance has figured prominently in recent discussions. Within the long-term care insurance market, the potential of the employer in making such insurance available to employees has been discussed extensively. This paper traces the increasing convergence of retirement planning and long-term care planning at the work place. The long-term care insurance market has come a long way, and the employer-sponsored segment of the market has recorded the highest rate of growth in recent times. Furthermore, the employer-sponsored market is beginning to diversify. Low take-up rates still remain a problem. Recent rapid growth of the market coupled with the federal government's involvement as an employer offering long-term care insurance is bound to expand the market further.     

Poverty persistence among the elderly in the transition from work to retirement

On the basis of matched Income Tax/Census data, the majority of the elderly poor in Belgium appear to be persistently poor. The question arises as to why this might be so. To the extent that individual characteristics such as abilities or tastes persist over time, these may also be the reason that individuals persist in poverty over time. In that case, one expects that once individual characteristics are controlled for, duration dependence in poverty becomes spurious. The alternative possibility is that the poverty experience itself has a causal impact on future poverty. This may be because of work disincentives, lack of investment in human capital and/or loss of motivation during the period of job search. The reasons for dependence in poverty are of interest for developing effective poverty-reducing policies. The estimation of a multiple-spell hazard model of transitions in and out of poverty, that allows for unobserved heterogeneity and a significant initial condition problem, supports the suggestion of true duration dependence in poverty. In Belgium the elderly unemployed are exempted from job search and lack any training or counselling from government agencies, while workers above 50 are given strong financial incentives to leave the labour market as soon as possible through different kinds of early retirement schemes.     

An Overview of Work,Retirement, and Pensions in Japan

Work to retirement in Japan is a sequential transition for the most part, and Japan permits mandatory retirement by firms at age 60. But many older people work beyond the age of 60, many more than in other industrialized countries. A number of hypotheses are examined, having to do with pensions, health, opportunity, interest in working, cultural attitudes (including the concept of ikigai), and public policy initiatives (such as employment policy and the Silver Human Resource Centers). Japan's cultural attitudes and existing policies appear to have set Japan on a unique course in considering the aging of its population. To what extent should other nations emulate Japan?     

An overview of welfare reform in michigan

Welfare reform has swept across the nation. However, before Washington was able to develop a unified front, the state of Michigan was well on the way to reforming its own welfare system. As one of the forerunners in the welfare reform movement, Michigan is clearly a state worth watching. The author highlights major welfare reform efforts in Michigan throughout the 1990s and examines these efforts in light of concerns raised by child welfare advocates across the nation     

An overview of elder abuse and neglect in Australia

Only relatively recently has the issue of elder abuse come to prominence in Australia. Until the late 1980s it was a hidden problem with little knowledge of its presence. Attention was drawn to elder abuse after the publication of a number of reports and research projects, allowing the development of responses at national and state levels. This paper gives an overview of the development of elder abuse as a social, legal and medical issue in Australia, and describes the diverse range of responses from the national, state and territory governments.     

Complementarity of pensions and training under multiemployer plans

We compare firmoptimizing and institutional models of labor contracts to investigate how different types of pension plans affect employee training. Unlike previous stud-ies, we consider an expanded voice model of training and pension coverage in which worker and union preferences feed back on firm decisions, and we test for this bidi-rectional causality between pensions and training. A standard view is that firms pro-vide pensions to optimize their training costs. However, when pension coverage is treated as endogenous in a twostage least squares regression (the data are merged 1991 CPS samples), pensions have a negative effect on training. In contrast, when the pension is a definedbenefit, multiemployer plan, training and pensions are comple-ments, consistent with both optimizing and institutional models. We are grateful for excellent research assistance from Michael Ash, Bhashkar Mazumder, and Judith Ruha and for suggestions from Dale Belman, David Card, B.J. Lee, David MacPherson, and John Turner.     

An overview of current clinical issues in separation and placement

This article reviews a wide range of literature and the knowledge base that is necessary for effective treatment of children in foster and adoptive homes. The pitfalls in clinical work with placed children are identified. In addition to the psychological effects of placement on children, there is review of knowledge affecting both foster and adoptive parents. Treatment approaches and tools that are presented in the literature are summarized.     

An overview of how sports, out-of-school time, and youth well-being can and do intersect

This article examines the benefits and disadvantages of participation in organized youth sports and describes a youth development approach to sports programming. The authors summarize what is known about the physical, socioemotional, and cognitive benefits of sports participation. These include health benefits (for example, a reduction in heart disease and diabetes) as well as socioemotional benefits, among them the coping skills of being able to bounce back from problems. The authors describe some of the disadvantages of participation as well. In particular, studies in this area have focused on health risk behaviors and engagement in problem behaviors. The authors present an innovative approach to youth sports and the advantages of implementing this approach using the emerging community youth development framework. Specific examples of youth sports programs are provided that use a positive youth development framework.     

Demographic,organizational and economic determinants of work satisfaction: An assessment of work attitudes of females in academic settings

Using a sample of females employed in nonindustrial settings, a model of work satisfaction was proposed and tested using nonlinear iterative partial least squares (PLS). Included in the final model were three demographic variables (age, hierarchical level, and education); two organizational variables (routinization and size); and two economic variables (objective and perceptual measures of opportunity). Positive relationships were observed between age and work satisfaction and hierarchical level and work satisfaction. An inverse relationship between education and work satisfaction was detected also. Both of the organizational variables were negatively correlated with work attitudes. Objective measures of opportunity (e.g., the unemployment rate) were negatively related to perceived opportunity, and perceived opportunity was inversely related to work satisfaction. The model explained almost 33% of the variance in job satisfaction, although the objective measures of opportunity accounted for less than 2% of the variance in perceived opportunity. The best predictor of work attitudes was routinization. Perceived opportunity and size were the second and third best predictors, respectively. The implications of this research for organizational theorists and managers are discussed.     

Non-governmental organisations and philanthropy in Latin America: An overview

This article provides an overview of the emerging non-profit or voluntary sector in Latin America. Specifically, the article addresses the differences and communalities these non-profit organisations have across the region. It concludes by emphasising the huge variety of roles and functions performed by non-profit organisations within and across countries, and their often ambigious position between the private and public realms.