Wharton Pension Research Council Working Papers

Document Type

Working Paper

Date of this Version



The published version of this Working Paper may be found in the 2006 publication: Restructuring Retirement Risks.

Working Paper Number


Copyright/Permission Statement

All findings, interpretations, and conclusions of this paper represent the views of the author(s) and not those of the Wharton School or the Pension Research Council. Copyright 2005 © Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.


The conclusions and recommendations expressed here are the authors’ and do not necessarily represent the views of Watson Wyatt or any of its other associates or the Federal Reserve Board or its staff. We thank David Gustafson, Nell Hennessey, Olivia Mitchell, Paul Smith, and Carolyn Zimmerman, and Thomas Bridges and Brendan McFarland for excellent research assistance.

Included in

Economics Commons



Date Posted: 30 August 2019