1 / 9

State Pension Benefit Estimates

State Pension Benefit Estimates. David G. Lenze Southern Regional Science Association 1 April 2006. SNA Treatment. Primary income of Household Sector Employer contributions counted as part of compensation Property income of pension funds is counted as part of dividends, interest, & rent.

lorene
Download Presentation

State Pension Benefit Estimates

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. State Pension Benefit Estimates David G. Lenze Southern Regional Science Association 1 April 2006

  2. SNA Treatment • Primary income of Household Sector • Employer contributions counted as part of compensation • Property income of pension funds is counted as part of dividends, interest, & rent

  3. SNA Treatment • Disposable Household Income • Contributions (employer & personal) & Property income deducted • Benefits added • Hence: • Compensation includes contributions, but • Disposable income includes benefits

  4. U.S. Pension Benefits (billion $) A B NIPA 1997 470.9 466.4 390.8 1998 522.7 527.1 397.5 1999 566.1 595.1 424.5 2000 612.6 652.2 453.4 2001 644.1 709.4 484.6 A—Using Form 5500; B—Using Form 1099R

  5. State Pension Estimates Source Data • SOI Division expanded IRMF sample • 1099-R • 5498 • ACLI

  6. Share of Nation—6 largest states, 2000 Pop. Inc. Pens. California 12.0% 13.1% 10.7% Texas 7.4 7.0 4.9 New York 6.7 7.9 7.9 Florida 5.7 5.4 7.8 Illinois 4.4 4.8 4.1 Pennsylvania 4.4 4.3 4.3

  7. Per Capita, 2000 ($) Personal Pension Income Benefits DC 40,456 5,385 Delaware 30,869 4,006 Hawaii 28,422 3,604 Maryland 34,257 3,395 Virginia 31,087 3,320 Florida 28,509 3,156 Maine 25,969 1,446

  8. Adjustments to US Personal Income, 2000 (billion $) Personal income 8,429.7 - Net reclassifications 3.0 - Pension contributions 697.7 - Pension Fund Property Income 367.7 + Pension benefits 652.2 Cash personal income 8,013.6

  9. Do Pension Benefits Contain Information Missed by Personal Income? Sales = .85 Personal Income + 12.1 (5.75) (7.98) R2=0.40 Sales = .70 Personal + .27 Pension +11.5 (4.81) (2.93) (8.05) R2=0.49

More Related