Lifetime Earnings Patterns, The Distribution of Future Social Security Benefits, And The Impact of Pension Reform

Bosworth, Barry; Burtless, Gary; Steuerle, C. Eugene

doi:10.2139/ssrn.252052

Cited by 34 publications

(25 citation statements)

References 2 publications

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“…Older, better educated, and more experienced workers are typically more productive and earn higher hourly wages than younger, less educated, and less experienced ones. These relationships are confirmed in cross-sectional surveys of active workers, and they are indirectly supported in lifetime Social Security earnings records, which on average show an increase in workers' lifetime earnings up through early or late middle age (Bosworth, Burtless, and Steuerle, 2000).…”

Section: Introductionmentioning

confidence: 64%

The Impact of Population Aging and Delayed Retirement on Workforce Productivity

Burtless

2013

SSRN Journal

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As the population grows older, an increasing share of the workforce will be past age 60.Older workers have often been considered less productive than younger ones, raising the issue of whether an aging workforce will also be a less productive one. This paper uses evidence from the monthly Current Population Survey files to shed light on the issue. It documents the rapidly growing role of older workers in the labor market and the steady improvement in their relative earnings. Compared with earlier generations of aged Americans and compared with contemporary prime-age workers, today's elderly are unusually well educated. Their high relative earnings and later retirement are partly explained by this fact. At the same time, the paper offers evidence that more productive workers stay in the workforce longer than less productive ones. Using a standard measure of worker productivity -hourly wages -workers between 60 and 74 are more productive than average workers who are younger. Compared with workers between 25 and 59, the pay premium for older workers is currently between 10 percent and 20 percent of the average wage earned by the younger workers. That pay premium has been increasing for a decade. There is little evidence the aging workforce has hurt productivity.

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Section: Introductionmentioning

confidence: 64%

The Impact of Population Aging and Delayed Retirement on Workforce Productivity

Burtless

2013

SSRN Journal

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“…This profiles are free of panel attrition, non-response and have no errors of memory. For further research in age-earnings profiles and their theoretical implications see Bosworth et al (1999Bosworth et al ( , 2001); Fachinger / Himmelreicher (2006 and O 'Harra et al (2004).…”

Section: Research In Life Time Earnings and Age-earnings Profilesmentioning

confidence: 99%

New Possibilities for Socio-Economic Research through Longitudinal Data from the Research Data Centre of the German Federal Pension Insurance (FDZ-RV)

Himmelreicher¹,

Stegmann²

2008

SCHM

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“…Leimer (1995) presents a good overall summary of the issues and complications faced by these researchers. Geanakoplos, Mitchell and Zeldes (1998) also provide an extensive discussion of ROR estimation under various policy scenarios, and more recently Bosworth, Burtless and Steuerle (1999) present a general analysis of career earnings patters as they may affect Social Security reform.…”

Section: Literaturementioning

confidence: 99%