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 2002 publication: Innovations in Retirement Financing.

Working Paper Number


Copyright/Permission Statement

© 2000 Pension Research Council of the Wharton School of the University of Pennsylvania. All Rights reserved.


The authors are grateful to Amy Finkelstein and Mark Warshawsky for helpful discussions, to Soojin Yim and David McCarthy for research assistance, and to Joseph Bellerson for kindly providing data. We thank the National Institute on Aging (Brown and Poterba), the Pension Research Council at the Wharton School (Mitchell), and the National Science Foundation (Poterba) for research support.

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Economics Commons



Date Posted: 13 September 2019