------------------------------------------------------------------ Health and Retirement Study Pension Present Value Database (Level 1) Data Description and Usage Version 1.0 July 15, 1999 Bob Peticolas Tom Steinmeier ------------------------------------------------------------------ ------------------------------------------------------------------ This data set was prepared for distribution by: Michael A. Nolte, Senior Research Associate HRS-AHEAD Project Survey Research Center, Room 3081 P. O. Box 1248 Ann Arbor, MI 48106-1248 ------------------------------------------------------------------ ------------------------------------------------------------------ To the Researcher: If there are any questions about this dataset and its use, send e-mail to hrsquest@isr.umich.edu. This document may not be reproduced without the written consent of the staff of the Health and Retirement Study, The Institute for Social Research, The University of Michigan. ------------------------------------------------------------------ ODBC Reference: [penlevel1] Perl script: CodebkT4.pl v1.4 Mon Sep 20 16:15:30 1999 User Note: The program that generated this codebook is under development. If you have any questions or suggestions concerning codebook layout or content please bring them to the attention of the HRS staff at hrsquest@isr.umich.edu. Printing recommendation: Set margins (left/right/top/bottom) to .5"; print in portrait orientation using a mono-space 10-point font. =========================================================================== CaseID CASE ID Type: Character Location: 1 Width: 5 Decimals: 0 MD-L: None MD-U: None This is the five-digit code that identifies each respondent in Health and Retirement Study Wave 1 (1992) Note: This file is composed of 6403 records, each containing 108 pension present value variables, for 4502 respondents at the employee-pension program level. The information in these variables is derived from: (1) Responses by HRS Wave 1 respondents to pension questions in one or more of the three employment sections (Section F - Current Job, Section G - Last Job, Section H - Job History) (2) Pension documents obtained from employers named by the respondents in (1). (3) Pension present value calculations for nine scenarios, each of which consists of a particular combination of the interest rate, the wage growth rate, and the inflation rate. The values of the rates in (3) are combinations of the high, low, and intermediate long-term rates forecast by the Social Security Administration as of the mid-1990's. Most users will probably want to use values from the Scenario 1, which uses the intermediate values for all three rates. =========================================================================== HHIDPN HOUSEHOLD ID / PERSON NUMBER Type: Character Location: 6 Width: 8 Decimals: 0 MD-L: None MD-U: None This is the seven-digit code (Household ID + Person number) that was assigned to each HRS respondent in Wave 2 as a way to uniquely identify each respondent over time. =========================================================================== BYR BIRTHYEAR Type: Numeric Location: 14 Width: 4 Decimals: 0 MD-L: None MD-U: None The year of birth of the respondent. The survey is meant to be a random sample only of 'age-eligible' respondents who were born between 1931 and 1941. N 6403 Miss 0 Min 1909 Max 1963 Mean 1936.4 =========================================================================== JC JOB CODE Type: Numeric Location: 18 Width: 1 Decimals: 0 MD-L: None MD-U: None A one digit code indicating the job to which the pension belongs. A value of 1 indicates a job recorded in section F of the survey (the current job in 1992). A value of 2 indicates a Section G job (the last job for respondents not currently employed at the time of the survey), and a value of 3 indicates a Section H job (the most recent job other than the Section F or G job which lasted 5 years or longer). If the respondent has pensions for more than one job, or for more than one pension for a particular job, these are recorded in the pension.da file in separate lines. ................................................................. 3882 1. Section F job 1200 2. Section G job 1321 3. Section H job =========================================================================== PT PLAN TYPE Type: Numeric Location: 19 Width: 1 Decimals: 0 MD-L: None MD-U: None A one digit code indicating the type of pension. The three values are 1 for defined benefit plans, 2 for defined contribution plans, and 3 for combination plans. ................................................................. 3835 1. Defined Benefit 2405 2. Defined Contribution 163 3. Combination =========================================================================== S1A50 SCENARIO 1 AGE50 VALUE Type: Numeric Location: 20 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 1 - Base Calculation: Interest Rate 6.3% Wage Growth 5% Inflation Rate 4% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2032419 Mean 34387.03 =========================================================================== S1A55 SCENARIO 1 AGE55 VALUE Type: Numeric Location: 29 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2270953 Mean 50030.67 =========================================================================== S1A60 SCENARIO 1 AGE60 VALUE Type: Numeric Location: 38 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2383778 Mean 61383.33 =========================================================================== S1A62 SCENARIO 1 AGE62 VALUE Type: Numeric Location: 47 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2406335 Mean 63251.56 =========================================================================== S1A65 SCENARIO 1 AGE65 VALUE Type: Numeric Location: 56 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2407085 Mean 63288.26 =========================================================================== S11992 SCENARIO 1 PENSION VALUE IN 1992 Type: Numeric Location: 65 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2239407 Mean 44971.34 =========================================================================== S1EA SCENARIO 1 EARLY RETIREMENT AGE Type: Numeric Location: 74 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S1EV SCENARIO 1 EARLY RETIREMENT VALUE Type: Numeric Location: 76 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 7 Max 1228911 Mean 104930.89 =========================================================================== S1NA SCENARIO 1 NORMAL RETIREMENT AGE Type: Numeric Location: 85 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S1NV SCENARIO 1 NORMAL RETIREMENT VALUE Type: Numeric Location: 87 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 587 Max 1244378 Mean 135713.4 =========================================================================== S1PT SCENARIO 1 PRIOR JOB TOTAL VALUE Type: Numeric Location: 96 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2565429 Mean 48604.62 =========================================================================== S1P92 SCENARIO 1 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 105 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2292038 Mean 34290.62 =========================================================================== S2A50 SCENARIO 2 AGE50 VALUE Type: Numeric Location: 114 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 2 - Low Intererest Rate: Interest Rate 6.00% Wage Growth 5% Inflation Rate 4% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 1913143 Mean 34605.77 =========================================================================== S2A55 SCENARIO 2 AGE55 VALUE Type: Numeric Location: 123 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2151146 Mean 50826.62 =========================================================================== S2A60 SCENARIO 2 AGE60 VALUE Type: Numeric Location: 132 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2271990 Mean 62945.12 =========================================================================== S2A62 SCENARIO 2 AGE62 VALUE Type: Numeric Location: 141 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2299082 Mean 65063.02 =========================================================================== S2A65 SCENARIO 2 AGE65 VALUE Type: Numeric Location: 150 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2308139 Mean 65375.57 =========================================================================== S21992 SCENARIO 2 PENSION VALUE IN 1992 Type: Numeric Location: 159 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2118621 Mean 45486.51 =========================================================================== S2EA SCENARIO 2 EARLY RETIREMENT AGE Type: Numeric Location: 168 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S2EV SCENARIO 2 EARLY RETIREMENT VALUE Type: Numeric Location: 170 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 8 Max 1273166 Mean 107678.04 =========================================================================== S2NA SCENARIO 2 NORMAL RETIREMENT AGE Type: Numeric Location: 179 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S2NV SCENARIO 2 NORMAL RETIREMENT VALUE Type: Numeric Location: 181 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 612 Max 1278768 Mean 141265.99 =========================================================================== S2PT SCENARIO 2 PRIOR JOB TOTAL VALUE Type: Numeric Location: 190 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2452536 Mean 48457.77 =========================================================================== S2P92 SCENARIO 2 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 199 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2199270 Mean 34532.92 =========================================================================== S3A50 SCENARIO 3 AGE50 VALUE Type: Numeric Location: 208 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 3 - High Interest Rate: Interest Rate 6.5% Wage Growth 5% Inflation Rate 4% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2116646 Mean 34247.23 =========================================================================== S3A55 SCENARIO 3 AGE55 VALUE Type: Numeric Location: 217 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2355501 Mean 49554.16 =========================================================================== S3A60 SCENARIO 3 AGE60 VALUE Type: Numeric Location: 226 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2462755 Mean 60421.3 =========================================================================== S3A62 SCENARIO 3 AGE62 VALUE Type: Numeric Location: 235 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2482188 Mean 62157.51 =========================================================================== S3A65 SCENARIO 3 AGE65 VALUE Type: Numeric Location: 244 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2477232 Mean 62013.77 =========================================================================== S31992 SCENARIO 3 PENSION VALUE IN 1992 Type: Numeric Location: 253 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2324647 Mean 44671.35 =========================================================================== S3EA SCENARIO 3 EARLY RETIREMENT AGE Type: Numeric Location: 262 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S3EV SCENARIO 3 EARLY RETIREMENT VALUE Type: Numeric Location: 264 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 7 Max 1198892 Mean 103218.29 =========================================================================== S3NA SCENARIO 3 NORMAL RETIREMENT AGE Type: Numeric Location: 273 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S3NV SCENARIO 3 NORMAL RETIREMENT VALUE Type: Numeric Location: 275 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 571 Max 1222369 Mean 132142.78 =========================================================================== S3PT SCENARIO 3 PRIOR JOB TOTAL VALUE Type: Numeric Location: 284 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2644085 Mean 48766.76 =========================================================================== S3P92 SCENARIO 3 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 293 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2356502 Mean 34165.65 =========================================================================== S4A50 SCENARIO 4 AGE50 VALUE Type: Numeric Location: 302 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 4 - Low Wage Growth Rate: Interest Rate 6.3% Wage Growth 4.5% Inflation Rate 4% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2276152 Mean 36096.66 =========================================================================== S4A55 SCENARIO 4 AGE55 VALUE Type: Numeric Location: 311 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2516578 Mean 51267.84 =========================================================================== S4A60 SCENARIO 4 AGE60 VALUE Type: Numeric Location: 320 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2614582 Mean 61625.74 =========================================================================== S4A62 SCENARIO 4 AGE62 VALUE Type: Numeric Location: 329 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2628691 Mean 63045.72 =========================================================================== S4A65 SCENARIO 4 AGE65 VALUE Type: Numeric Location: 338 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2613851 Mean 62369.11 =========================================================================== S41992 SCENARIO 4 PENSION VALUE IN 1992 Type: Numeric Location: 347 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2486812 Mean 46447.79 =========================================================================== S4EA SCENARIO 4 EARLY RETIREMENT AGE Type: Numeric Location: 356 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S4EV SCENARIO 4 EARLY RETIREMENT VALUE Type: Numeric Location: 358 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 8 Max 1228911 Mean 107076.98 =========================================================================== S4NA SCENARIO 4 NORMAL RETIREMENT AGE Type: Numeric Location: 367 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S4NV SCENARIO 4 NORMAL RETIREMENT VALUE Type: Numeric Location: 369 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2294 Miss 4109 Min 681 Max 1247455 Mean 134431.1 =========================================================================== S4PT SCENARIO 4 PRIOR JOB TOTAL VALUE Type: Numeric Location: 378 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2760500 Mean 49953.8 =========================================================================== S4P92 SCENARIO 4 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 387 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2466321 Mean 35322.2 =========================================================================== S5A50 SCENARIO 5 AGE50 VALUE Type: Numeric Location: 396 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 5 - High Wage Growth Rate: Interest Rate 6.3% Wage Growth 5.5% Inflation Rate 4% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 1818589 Mean 32794.17 =========================================================================== S5A55 SCENARIO 5 AGE55 VALUE Type: Numeric Location: 405 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2055055 Mean 48900.57 =========================================================================== S5A60 SCENARIO 5 AGE60 VALUE Type: Numeric Location: 414 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2181215 Mean 61297.09 =========================================================================== S5A62 SCENARIO 5 AGE62 VALUE Type: Numeric Location: 423 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2211537 Mean 63657.93 =========================================================================== S5A65 SCENARIO 5 AGE65 VALUE Type: Numeric Location: 432 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2226715 Mean 64423.12 =========================================================================== S51992 SCENARIO 5 PENSION VALUE IN 1992 Type: Numeric Location: 441 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2021975 Mean 43594.98 =========================================================================== S5EA SCENARIO 5 EARLY RETIREMENT AGE Type: Numeric Location: 450 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S5EV SCENARIO 5 EARLY RETIREMENT VALUE Type: Numeric Location: 452 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 7 Max 1193910 Mean 102914.22 =========================================================================== S5NA SCENARIO 5 NORMAL RETIREMENT AGE Type: Numeric Location: 461 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S5NV SCENARIO 5 NORMAL RETIREMENT VALUE Type: Numeric Location: 463 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 717 Max 1244378 Mean 137324.93 =========================================================================== S5PT SCENARIO 5 PRIOR JOB TOTAL VALUE Type: Numeric Location: 472 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2387650 Mean 47372.52 =========================================================================== S5P92 SCENARIO 5 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 481 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2133205 Mean 33338.82 =========================================================================== S6A50 SCENARIO 6 AGE50 VALUE Type: Numeric Location: 490 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 6 - Low Inflation Rate: Interest Rate 6.3% Wage Growth 5% Inflation Rate 3% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2032446 Mean 32955.46 =========================================================================== S6A55 SCENARIO 6 AGE55 VALUE Type: Numeric Location: 499 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2270980 Mean 48172.48 =========================================================================== S6A60 SCENARIO 6 AGE60 VALUE Type: Numeric Location: 508 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2383804 Mean 59416.74 =========================================================================== S6A62 SCENARIO 6 AGE62 VALUE Type: Numeric Location: 517 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2406360 Mean 61304.01 =========================================================================== S6A65 SCENARIO 6 AGE65 VALUE Type: Numeric Location: 526 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2407108 Mean 61533.65 =========================================================================== S61992 SCENARIO 6 PENSION VALUE IN 1992 Type: Numeric Location: 535 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2239435 Mean 43305.87 =========================================================================== S6EA SCENARIO 6 EARLY RETIREMENT AGE Type: Numeric Location: 544 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S6EV SCENARIO 6 EARLY RETIREMENT VALUE Type: Numeric Location: 546 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 7 Max 1112566 Mean 99567.83 =========================================================================== S6NA SCENARIO 6 NORMAL RETIREMENT AGE Type: Numeric Location: 555 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S6NV SCENARIO 6 NORMAL RETIREMENT VALUE Type: Numeric Location: 557 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 624 Max 1168706 Mean 129607.77 =========================================================================== S6PT SCENARIO 6 PRIOR JOB TOTAL VALUE Type: Numeric Location: 566 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2565454 Mean 46268.86 =========================================================================== S6P92 SCENARIO 6 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 575 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2292059 Mean 33043.91 =========================================================================== S7A50 SCENARIO 7 AGE50 VALUE Type: Numeric Location: 584 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 7 - High Inflation Rate: Interest Rate 6.3% Wage Growth 5% Inflation Rate 5% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2032419 Mean 35907.85 =========================================================================== S7A55 SCENARIO 7 AGE55 VALUE Type: Numeric Location: 593 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2270953 Mean 51829.12 =========================================================================== S7A60 SCENARIO 7 AGE60 VALUE Type: Numeric Location: 602 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2383778 Mean 63220.21 =========================================================================== S7A62 SCENARIO 7 AGE62 VALUE Type: Numeric Location: 611 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2406335 Mean 65016.33 =========================================================================== S7A65 SCENARIO 7 AGE65 VALUE Type: Numeric Location: 620 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2407085 Mean 64839.26 =========================================================================== S71992 SCENARIO 7 PENSION VALUE IN 1992 Type: Numeric Location: 629 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2239407 Mean 46612.24 =========================================================================== S7EA SCENARIO 7 EARLY RETIREMENT AGE Type: Numeric Location: 638 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S7EV SCENARIO 7 EARLY RETIREMENT VALUE Type: Numeric Location: 640 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 8 Max 1406710 Mean 110987.62 =========================================================================== S7NA SCENARIO 7 NORMAL RETIREMENT AGE Type: Numeric Location: 649 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S7NV SCENARIO 7 NORMAL RETIREMENT VALUE Type: Numeric Location: 651 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 127 Max 1367682 Mean 141438.3 =========================================================================== S7PT SCENARIO 7 PRIOR JOB TOTAL VALUE Type: Numeric Location: 660 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2565431 Mean 51203.25 =========================================================================== S7P92 SCENARIO 7 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 669 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2292039 Mean 35617.1 =========================================================================== S8A50 SCENARIO 8 AGE50 VALUE Type: Numeric Location: 678 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 8 - Low Values All Rates: Interest Rate 6% Wage Growth 4.5% Inflation Rate 3% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 2140014 Mean 34746.09 =========================================================================== S8A55 SCENARIO 8 AGE55 VALUE Type: Numeric Location: 687 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2380017 Mean 50044.93 =========================================================================== S8A60 SCENARIO 8 AGE60 VALUE Type: Numeric Location: 696 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2486872 Mean 60971.89 =========================================================================== S8A62 SCENARIO 8 AGE62 VALUE Type: Numeric Location: 705 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2505896 Mean 62663.85 =========================================================================== S8A65 SCENARIO 8 AGE65 VALUE Type: Numeric Location: 714 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2500007 Mean 62460.17 =========================================================================== S81992 SCENARIO 8 PENSION VALUE IN 1992 Type: Numeric Location: 723 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2349133 Mean 45151.35 =========================================================================== S8EA SCENARIO 8 EARLY RETIREMENT AGE Type: Numeric Location: 732 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S8EV SCENARIO 8 EARLY RETIREMENT VALUE Type: Numeric Location: 734 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 7 Max 1143487 Mean 104066.67 =========================================================================== S8NA SCENARIO 8 NORMAL RETIREMENT AGE Type: Numeric Location: 743 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S8NV SCENARIO 8 NORMAL RETIREMENT VALUE Type: Numeric Location: 745 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 54 Max 1206423 Mean 133252.57 =========================================================================== S8PT SCENARIO 8 PRIOR JOB TOTAL VALUE Type: Numeric Location: 754 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2636809 Mean 47299.69 =========================================================================== S8P92 SCENARIO 8 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 763 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2364515 Mean 34200.1 =========================================================================== S9A50 SCENARIO 9 AGE50 VALUE Type: Numeric Location: 772 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 50. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. Scenario 9 - High Values All Rates: Interest Rate 6.5% Wage Growth 5.5% Inflation Rate 5% ................................................................. 492 999999999. Hire date for job subsequent to indicated age N 5911 Miss 492 Min 0 Max 1892467 Mean 34088.32 =========================================================================== S9A55 SCENARIO 9 AGE55 VALUE Type: Numeric Location: 781 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 55. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 108 999999999. Hire date for job subsequent to indicated age N 6295 Miss 108 Min 0 Max 2129319 Mean 50116.51 =========================================================================== S9A60 SCENARIO 9 AGE60 VALUE Type: Numeric Location: 790 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 60. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 18 999999999. Hire date for job subsequent to indicated age N 6385 Miss 18 Min 0 Max 2250417 Mean 62053.19 =========================================================================== S9A62 SCENARIO 9 AGE62 VALUE Type: Numeric Location: 799 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 62. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 7 999999999. Hire date for job subsequent to indicated age N 6396 Miss 7 Min 0 Max 2277845 Mean 64167.13 =========================================================================== S9A65 SCENARIO 9 AGE65 VALUE Type: Numeric Location: 808 Width: 9 Decimals: 0 MD-L: None MD-U: 999999999 For current job(s): Present value of the pension at age 65. If the hire date for the job was subsequent to the indicated age, the variable contains the value 999999999. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 5 999999999. Hire date for job subsequent to indicated age N 6398 Miss 5 Min 0 Max 2287705 Mean 64560.46 =========================================================================== S91992 SCENARIO 9 PENSION VALUE IN 1992 Type: Numeric Location: 817 Width: 9 Decimals: 0 MD-L: None MD-U: None Present value of the pension at the time of the wave 1 (1992). Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2096846 Mean 44823.3 =========================================================================== S9EA SCENARIO 9 EARLY RETIREMENT AGE Type: Numeric Location: 826 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 34 Max 67 Mean 54.9707736 =========================================================================== S9EV SCENARIO 9 EARLY RETIREMENT VALUE Type: Numeric Location: 828 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Early Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4658 0. Inap., Defined contribution plan; Section G or H job N 1745 Miss 4658 Min 8 Max 1368148 Mean 106915.47 =========================================================================== S9NA SCENARIO 9 NORMAL RETIREMENT AGE Type: Numeric Location: 837 Width: 2 Decimals: 0 MD-L: 0 MD-U: None Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 36 Max 69 Mean 61.5337397 =========================================================================== S9NV SCENARIO 9 NORMAL RETIREMENT VALUE Type: Numeric Location: 839 Width: 9 Decimals: 0 MD-L: 0 MD-U: None Present value at the Normal Retirement Age: This variable has a value only if the pension is a Defined Benefit or Combination Plan; otherwise it has a value of zero. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. ................................................................. 4106 0. Inap., Defined contribution plan; Section G or H job N 2297 Miss 4106 Min 690 Max 1341873 Mean 139212.06 =========================================================================== S9PT SCENARIO 9 PRIOR JOB TOTAL VALUE Type: Numeric Location: 848 Width: 9 Decimals: 0 MD-L: None MD-U: None Total Value of the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2459503 Mean 49995.94 =========================================================================== S9P92 SCENARIO 9 PRIOR JOB VAL-PMTS AFTER 1992 Type: Numeric Location: 857 Width: 9 Decimals: 0 MD-L: None MD-U: None Value of the payments after 1992 for the pension in the prior job. Note: This pension value is discounted to 1992 to facilitate use in calculations of total wealth. N 6403 Miss 0 Min 0 Max 2191994 Mean 34461.39 =========================================================================== IVFLAG 5% IMPUTED VALUE FOR VOL CONTRIBUTIONS Type: Numeric Location: 866 Width: 1 Decimals: 0 MD-L: None MD-U: None A flag for imputed voluntary contributions. This variable relates to defined contribution plans and whether an imputed rate was used. In the respondent interview, the HRS asked how much the respondent contributed to the plan. This information was used as one of the input variables into the program which calculates the pension values. However, in some cases the contribution rates were missing because the respondent answered DK or refused to answer the relevant question. In these cases, a value of 5% of earnings was used as the imputed voluntary contribution rate. This figure is close to the mean contribution rates for respondents who did report that they contributed to their plans. Respondents were not asked their contribution rate for prior jobs, so an imputed value of 5% is used for all respondents' prior jobs. ................................................................. 2841 1. Flag set 3562 0. Flag not set =========================================================================== IVEFF VOL CONTRIB IMPUTED VAL AFFECTS BENEFITS Type: Numeric Location: 867 Width: 1 Decimals: 0 MD-L: None MD-U: None A flag for imputed voluntary contributions that affect the pension values. This variable relates to defined contribution plans and whether an imputed rate was used. In the respondent interview, the HRS asked how much the respondent contributed to the plan. This information was used as one of the input variables into the program which calculates the pension values. However, in some cases the contribution rates were missing because the respondent answered DK or refused to answer the relevant question. In these cases, a value of 5% of earnings was used as the imputed voluntary contribution rate. This figure is close to the mean contribution rates for respondents who did report that they contributed to their plans. Respondents were not asked their contribution rate for prior jobs, so an imputed value of 5% is used for all respondents' prior jobs. For some defined contribution plans, however, these imputed contribution rates are immaterial. These plans, which are more along the lines of the early defined contribution plans, specify the percentage contributions by the employer and the employee; there is no discretion for either party to vary the percentage. This variable indicates whether the imputed contribution rate has an impact on the pension value. If IVEFF is set, the researcher should be cautious. Although the voluntary contribution rates for these plans will be close to right on average, for individual respondents the contribution rates may be far from correct. If the flag is not set, the imputed voluntary contribution rate does not have any impact on the pension value. This most likely occurs because the plan does not provide for voluntary contributions. ................................................................. 1011 1. Flag set 5392 0. Flag not set =========================================================================== PRIV PROGRAM IMPUTED INPUT VALUE FOR R Type: Numeric Location: 868 Width: 1 Decimals: 0 MD-L: None MD-U: None A flag for imputed respondent characteristics. This flag is set in cases where some respondent information had to be imputed beyond the imputations in the main HRS respondent data set. The pension calculations require several variables, especially the date of hire and, for previous jobs, the date of separation, which are occasionally missing from the respondent data file. If the separation date is missing, the observations were deleted from the pension files. This affected two Section G jobs and four Section H jobs. If the hire date was outside the allowable bounds of ages 16 to 80, it was recoded to a default date of age 20. This affected roughly 5 Section F jobs, 4 Section G jobs, and 11 Section H jobs. Six of these changes occurred because the respondents implied they started work before age 16, and the remainder occurred because of missing values of start dates. ................................................................. 28 1. Flag set 6375 0. Flag not set USING THE LEVEL 1 PENSION FILE Probably the most common use of the pension file will be to obtain a single variable for each job that will give the value of the pension as of 1992, which then may be combined with the other asset variables (also measured as of 1992) in order to derive a level of total assets. Here we give an illustration of the SAS steps necessary to obtain these values. There are two things to watch out for when doing this exercise. First, the value of the 1992 pension is in one of two locations, depending on whether this is a current (Section F) or previous (Sections G and H) job. Secondly, the pension file may have more than one pension for any particular job, and hence more than one line in the pension.da file may refer to the same job. A frequent situation is that there is one defined benefit pension and one defined contribution pension. In order to get a single value per job, the values of these pensions must be combined. The following lists a sample SAS data step to create a data set which lists the 1992 values of the pensions for each job for which we have a pension from the employer. The values are for the first scenario, which uses the intermediate Social Security values for the interest rate, the inflation rate, and the wage growth rate. Note that any respondent may have up to three lines in this file, one for the Section F job, one for the Section G job, and one form the Section H job. The absence of a job in this file does not necessarily indicate that the job did not have a pension, only that the HRS did not obtain the pension documents from the employer (or in the rare instances that the survey did not obtain enough information to be able to evaluate the pension). DATA WORK.PENLVL1; INFILE PENSION1.DA; INPUT CASEID 1-5 HHIDPN 6-13 JC 18 S11992 65-73 S1P92 105-113; RUN; PROC SORT DATA=WORK.PENLVL1 OUT=WORK.PENLVL1S; BY CASEID JC; DATA WORK.PENLVL0; RETAIN PENVALUE ; SET WORK.PENLVL1S; BY CASEID JC; IF FIRST.CASEID AND FIRST.JC THEN PENVALUE = 0; IF JC = 1 THEN PENVALUE = PENVALUE + S11992; ELSE PENVALUE = PENVALUE + S1P92; RUN; In this example, the fields of the variables in the input statement come from the Scenario 1 variables described in file PENSION1.SAS. Note that S1P92, which denotes the value of the pension in the previous job, refers only to the value of payments after 1992. If the researcher wanted to include the value of payments before 1992 from pensions of previous jobs, the appropriate variable would be S1PT (columns 96-104). The researcher can modify this code as desired. If he or she wanted only the pensions from current jobs, the last line could be modified to: IF LAST.CASEID AND LAST.JC AND JC == 1 THEN OUTPUT; If the researcher wants the value of current job pensions if the respondent worked until age 62, the input line would be INPUT CASEID 1-5 JC 18 S1A62 47-55 S1P92 105-113; and the pension value aggregation statement would change to IF JC = 1 THEN PENVALUE = PENVALUE + S1A62; ELSE PENVALUE = PENVALUE + S1P92; Note that the age values in the file for years other than 1992 are the values at the appropriate date, discounted back to 1992. If a single value per individual is desired, the two relevant IF statements would be: If FIRST.CASEID THEN Penvalue = 0; and If LAST.CASEID THEN OUTPUT; This would cumulate the pension values across jobs and make a single pension observation per respondent. Caution is advised, however, for any instances in which the survey obtained employer pension information for one job but not another. Only the jobs for which the employer information was obtained will be included in this value. If the researcher wants to create a file at the respondent level with Case ID (CASEID), household identifier and person number (HHIDPN), job code (JC) and 1992 Pension value (S11992), the second data step would be modified to: DATA WORK.PENLVL0; RETAIN PENVALUE ; SET WORK.PENLVL1S; BY CASEID JC; FILE PENS92.DAT IF FIRST.CASEID AND FIRST.JC THEN PENVALUE = 0; IF JC = 1 THEN PENVALUE = PENVALUE + S11992; ELSE PENVALUE = PENVALUE + S1P92; DROP S11992 S1P92; IF LAST.CASEID AND LAST.JC THEN PUT CASEID 1-5 HHIDPN 7-14 JC 16 Penvalue 18-26 ; RUN; The variables would be written to a file called PENS92.DAT. It should be clear that the user can modify this basic SAS routine in a number of ways to obtain the values from the Level 1 pension file that he or she wants. It is possible to obtain values for different interest rates than are in the Level 1 file, as well as to modify a number of assumptions about how the pension values are generated, but to do so the user will need the Level 2 files.