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Working after claiming benefits…A look at this workforce demographic - PSCA.org
How many of those who claim Social Security benefits remain in–or rejoin–the workforce? Many years ago, when Social Security was healthy, when the full retirement age was 65, and when the cost of living was more manageable, most folks pulled the plug, collected their benefits, and vacated the workforce entirely. Things seem different these days.
A post by PSCA.org’s John Lekel analyzes this workforce demographic, quoting Alicia H. Munnell, senior advisor of the Center for Retirement Research at Boston College, “Working after claiming Social Security is quite common.” His post summarizes statistics from the Center’s recent brief on this issue and analyzes why claimants choose to remain employed, including a discussion on the benefit calculation process and the potential effect of continued workforce participation.