A simple measure of pension generosity

Gary A. Wagner and Erick M. Elder

Applied Economics Letters, 2020, vol. 27, issue 19, 1581-1586

Abstract: Accurately assessing the generosity of government pensions is an important policy issue. This article proposes to measure generosity by the present value of benefits workers accrue per additional year of working net of their contributions. We show how a simple adjustment to standard pension metrics will approximate this measure. We conclude by documenting differences between our measure and other generosity metrics using data from Boston University’s Public Plans Database.

Date: 2020
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DOI: 10.1080/13504851.2019.1697796

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