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Alan L. Gustman, Thomas L. Steinmeier
NBER Working Paper No. 7174*
Issued in June 1999
NBER Program(s): LS
AG
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---- Abstract -----
We compute pension wealth from employer provided pension plan descriptions matched to respondent surveys to the National Longitudinal Survey of Mature Women (NLS-MW) and the Health and Retirement Study (HRS). These calculations provide detailed information on the level and distribution of pension wealth and a variety of incentives from pensions. Differences between the pensions of men and women are largely explained by differences in earnings. However, there also are differences in the shapes of the pension accrual profiles of defined benefit plans that are likely to reflect the lower tenure of women. Pension coverage is lower in the NLS-MW than in the HRS. As a result, pension wealth is lower in the NLS-MW than in the HRS. But the difference in coverage is not due to the effects of pension matching. Pension values for covered respondents are similar between the NLS-MW and HRS surveys. Systematic differences between the surveys in the rate at which pensions were matched do not have a major effect on findings as to the levels and distributions of pension wealth between the surveys.
*Published: Research in Labor Economics, Vol. 19 (2000), forthcoming. Published as "Effects of Pensions on Savings: Analysis with Data from the Health and Retirement Study", Carnegie-Rochester Conference Series on Public Policy, Vol. 50, no. 1 (June 1999): 271-324.
Published as "Retirement Measures in the Health and Retirement Study", IR, Vol. 34 (1995, Supp): S57-S83. Published as "Retirement Measures in the Health and Retirement Study", JHR, Vol. 30 (1995, Supp): 57-83.
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