Concepts and Measures of Earnings Replacement During Retirement / Michael J. Boskin, John B. Shoven.

Format:

Book

Author/Creator:

Boskin, Michael J.

Contributor:

National Bureau of Economic Research.

Shoven, John B.

Series:

Working Paper Series (National Bureau of Economic Research) no. w1360.

NBER working paper series no. w1360

Language:

English

Subjects (All):

Retirement income--Mathematical models.

Retirement income.

Social security--Mathematical models.

Social security.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1984.

Cambridge, Massachusetts : National Bureau of Economic Research, 1984.

Summary:

This paper compares the well-being of the Retirement History Survey of the elderly with their own previous levels of income and economic welfare. Traditional replacement rates are calculated, although a number of shortcomings of such measures are discussed. Modifications are made by examining career average rather than peak earnings, by adjusting for the fact that the incomes of the elderly are taxed more lightly, that the elderly do not have dependent children, and that Social Security income in retirement is a safer source ofincome than earnings earlier in life. The fully adjusted total income measures are at least as high for almost all classes of households in the survey as their career average pre-retirement earnings.

Notes:

Print version record

June 1984.