Joint Retirement in the Dual Worker Family

The large increase in labor force participation rates of older women has raised questions regarding the joint timing of retirement among older working couples. We define three patterns of family retirement: joint retirement in which both spouses retire at the same time; substitute retirement, a pattern in which the wife works after the husband; and secondary retirement, a pattern in which the husband works longer than the wife. Using data from the Social Security Longitudinal Retirement History Study for 1969–75, we examine determinants of these family patterns. We find that both spouses' characteristics affect retirement timing. Husband's and wife's age, hourly wage, and pension coverage have parallel, symmetric effects on the retirement pattern chosen.