we generalize the natural retirement income tontine introduced by Milevsky and Salisbury (2015), by combining … equal income rights. On a historical note, this echoes a proposal by Charles Compton (1833) almost two centuries ago, which …

Several studies have found mortality differences by income level — higher income individuals tend to live longer — and … these differences have been growing over time. This differential mortality could affect measured cohort income inequality … because the bottom of the income distribution will become relatively sparse as a cohort ages. This study examines the role …

People whose family income was less than $5,000 in 1980 could expect to live about 25 percent fewer years than people … whose family income was greater than $50,000. We explore this finding using both individual data and a panel of aggregate … birth cohorts observed from 1975 to 1995. We assume that health status is determined by social status, defined as income …