Pension Wealth, Age-Wealth Profiles and the Distribution of Net Worth
Ann A. McDermed,
Robert L. Clark and
Steven Allen ()
No 2439, NBER Working Papers from National Bureau of Economic Research, Inc
This study estimates the magnitude of pension wealth and compares pension wealth to net worth for households in the 1983 Survey of Consumer Finance (SCF). The SCF is the first data set to provide detailed information on both household finances and pension characteristics. The pension information is provided by the employer, so that it is much more detailed and likely to be more accurate than the pension data used in previous studies. Pension wealth was estimated under two sets of assumptions. Under the projected earnings approach, mean pension wealth is $98,291, which represents 43 percent of mean net worth for households with pensions. Under the legal method of calculating pension wealth, mean pension wealth is $47,541, which represents 26 percent of mean net worth for households with pensions. Both estimates are much larger than those obtained in earlier studies. The study also examines how estimates of inequality in the wealth distribution change when pension wealth is added to household balance sheets. Using a variety of methods and assumptions, the distribution becomes more equal when the definition of wealth is expanded to include pension assets.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed
Published as The Measurement of jSaving, Investment, and Wealth. Ed. by Robert Lipsey, and Helen Stone Tice, 1989. pp689-731. University of Chicago Press, Chicago
Published as Pension Wealth, Age-Wealth Profiles, and the Distribution of Net Worth , Ann McDermed, Robert L. Clark, Steven G. Allen. in The Measurement of Saving, Investment, and Wealth , Lipsey and Tice. 1989
Downloads: (external link)
Chapter: Pension Wealth, Age-Wealth Profiles, and the Distribution of Net Worth (1989)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:nbr:nberwo:2439
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Series data maintained by ().