@article {5606,
	title = {Modeling Lifetime Earnings Paths: Hypothetical versus Actual Workers},
	year = {2004},
	institution = {University of Pennsylvania, Boettner Center for Pe, Pension Research Council WP 2004-3},
	abstract = {To assess the distributional effects of social security reform proposals, it is essential to have good information on real-world workers  lifetime earnings trajectories. Until recently, however, policymakers have relied on hypothetical earnings profiles for policy analysis. We use actual lifetime earnings data from the Health and Retirement Study (HRS) to compare actual workers  covered earnings profiles to these hypothetical profiles. We show that the hypothetical profiles do not track earnings patterns of current retirees; thus lifetime pay levels are much higher than for most HRS workers. Therefore, using hypothetical profiles could misrepresent benefits paid and taxes collected under such reforms.},
	keywords = {Net Worth and Assets, Pensions, Social Security},
	author = {Olivia S. Mitchell and John W R Phillips and Au, Andrew}
}
