This paper examines the extent of redistribution that would occur under various annuity and bequest options as part of … an individual accounts retirement program. I first estimate mortality differentials by gender, race, ethnicity and level … of education using the National Longitudinal Mortality Study and document substantial differences. I then use these …

individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … plans, calibrated on the US case. Compared to a benchmark non-redistributive plan that accounts for differences in mortality …

for participants in the Health and Retirement Study to investigate redistribution under the current social security … high lifetime earnings to those with low lifetime earnings. However, much of this apparent redistribution is from men to … the total lifetime earnings, and spouse and survivor benefits are taken into account, the extent of redistribution from …

lifetime wage profiles and actual earnings each year for a sample of 1778 individuals, and we use mortality probabilities to …-wage spouse is then not so poor less progressive. Sixth, we incorporate mortality probabilities that differ by potential lifetime …

Building on the existing literature that examines the extent of redistribution in the Social Security system as a whole … virtually no effect on overall inequality. Second, we find that this result is driven largely by the lack of redistribution … bottom of the lifetime income distribution. Third, in cases where redistribution does occur, we find it is not efficiently …

men. This increased the redistribution of Social Security benefits among households. Nevertheless, a considerable gap … less than their husbands. As a result, much of the redistribution at the individual level was effectively from high earning … high income households. Both factors mitigate redistribution at the household level …

remaining life expectancy and lower mortality risk relative to earlier time periods due to improvements in mortality. We examine … to determine what eligibility ages would be today and in 2050 if adjustments for mortality improvement were taken into … approximately 0.15 years annually. Failure to adjust for mortality improvement implies the percent of the population eligible to …

policy changes increased the gains from delay, particularly for couples. In addition, mortality improved and real interest …

couples. In this paper, we quantify the degree of actuarial advantage or disadvantage for individuals whose mortality differs … from the average. We find that at real interest rates close to zero, most households - even those with mortality rates that … historical average, however, singles with mortality that is substantially greater than average do not benefit from delay; however …