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Health-Care Coverage a Primary Driver of Deciding When to Retire
What matters most to workers nearing retirement: income or health-care coverage? A recent study by researchers at the Center for Retirement Research at Boston College suggests it could be the latter. They examined data about when people filed for Social Security benefits and whether their employer offered retiree health benefits. The result: Even if they had yet to reach full retirement age for Social Security, workers without retiree health benefits were more likely to retire at 65, the age of Medicare eligibility for most people, than their counterparts who did get retiree health benefits. Matthew Rutledge, a research economist who co-authored the study, responded to questions from Morningstar by email. Read more…