Who Claimed Social Security Early Due to the Great Recession?
- Authors: Matthew S. Rutledge, Norma S. Coe, Kendrew Wong
- Date: June 6, 2012
Between 2007 and 2009, the percent of 62 year olds claiming Social Security benefits reversed a decade-long decline and increased sharply before reverting back to trend. This phenomenon raises two questions: 1) who was induced to claim early?; and 2) how much monthly retirement income have they lost as a result? To address these questions, this brief, which reflects findings from a recent paper, uses individual-level data from the Health and Retirement Study (HRS).