Table 10.

Policy Simulations - Good Health (no worse than 1 standard deviation below average)

	Baseline	Policy 1 Remove SS ERB	Policy 2 SS NRA to 67	Policy 3 Eliminate DI	Policy 4 25% Decrease DI Benefits	Policy 5 25% Decrease SS Benefits	Policy 6 25% Decrease DI & SS Benefits
Pooled Ages
LF Exit (N+A)	0.118	0.113	0.116	0.113	0.117	0.116	0.114
Non-Work (N)	0.111	0.106	0.109	0.113	0.111	0.109	0.108
Apply DI (A)	0.007	0.007	0.007	0**	0.006	0.007	0.006
AGE=55
LF Exit (N+A)	0.103	0.103	0.103	0.098	0.102	0.103	0.102
Non-Work (N)	0.097	0.095	0.096	0.098	0.097	0.096	0.096
Apply DI (A)	0.007	0.007	0.007	0**	0.006	0.007	0.006
AGE=60
LF Exit (N+A)	0.125	0.122	0.123	0.122	0.124	0.123	0.122
Non-Work (N)	0.119	0.115	0.117	0.122	0.119	0.117	0.117
Apply DI (A)	0.006	0.007	0.006	0**	0.005	0.006	0.006
AGE=62
LF Exit (N+A)	0.145	0.123	0.138	0.140	0.144	0.137	0.136
Non-Work (N)	0.137	0.116	0.130	0.140	0.137	0.129	0.129
Apply DI (A)	0.008	0.007	0.008	0**	0.006	0.008	0.007
AGE=64
LF Exit (N+A)	0.171	0.149	0.163	0.166	0.170	0.163	0.161
Non-Work (N)	0.161	0.141	0.152	0.166	0.161	0.151	0.151
Apply DI (A)	0.010	0.008	0.010	0**	0.009	0.011	0.010
AGE=65
LF Exit (N+A)	0.178	0.172	0.208	0.175	0.178	0.167	0.166
Non-Work (N)	0.178	0.172	0.195	0.175	0.178	0.167	0.166
Apply DI (A)	0*	0*	0.013	0*	0*	0.013	0*

^*person cannot apply for Disability Insurance at age 65 or older except in Policy 2.

^**policy involves removing Disability Insurance program.

Policy 1 involves removing all SS benefits before age 65.

Policy 2 involves changing the normal retirement age from 65 to 67.

Policy 3 involves removing the DI program.

Policy 4 involves a 25% decrease in DI benefits without changing SS Retirement benefits.

Policy 5 involves a 25% decrease in SS Retirement benefits without changing DI benefits.

Policy 6 involves ad 25% reduction in both SS Retirement and DI benefits.