An understanding of the financial and distributional consequences of Social Security reform requires knowledge about the actual life circumstances of participants, including the level and pattern of their lifetime earnings and when they retire. Some analyses of Social Security reform make simplifying assumptions about these characteristics by using “hypothetical workers” with set career paths. We seek to develop greater understanding about actual lifetime earnings patterns to compare with hypothetical workers and find discrepancies which lead typical hypothetical workers to produce a more favorable impression for defined-contribution pension reforms. We suggest modifications to make a more suitable hypothetical worker.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
19036.
Length: Date of creation: Jun 2009 Date of revision: Publication status: Published in Journal of Income Distribution 2.18(2009): pp. 92-117 Handle: RePEc:pra:mprapa:19036
Find related papers by JEL classification: H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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