Table A1

Means of retired worker sample under alternative definitions of retirement

Retirement Status Defined By
Hours and Self-ReportHours Only
Observation period (years)          6.6          6.9
Demographics & health (preretirement)
    Retirement age        59.7        58.8
    Male        51.4        48.5
    Black          8.6          8.7
    Hispanic          4.1          5.3
    Other          1.7          1.7
    Married        73.3        77.2
    I(Education ≤ 12 years)        57.0        57.2
    Fair or poor health (self-reported)        14.5        14.5
    Number of health conditions          1.2          1.1
Retirement resources (preretirement)
    Income ($)  76,286.0  76,247.3
    Net worth ($)361,120.0351,038.6
    Self-employed        13.4        15.8
    Employer pension        68.3        61.7
    Employer offers retiree health insurance        74.2        72.5
Occupation (preretirement)
    Managerial/professional specialty        31.1        33.1
    Sales/admin support        22.3        25.4
    Services        11.1        14.0
    Precision production/craft/repair        11.3        13.0
    Operators/laborers        12.5        14.0
Retirement planning (preretirement)
    Short planning horizon        24.0        23.8
    Plans to keep working in retirement        71.2        72.9
    Worries about not having enough income        54.1        56.1
    Worries about not being productive        36.4        36.1
Changes in resources & perceptions (postretirement)
    Net worth (nonhousing) drops by 25% or more        23.9        25.6
    Stock value drops by 25% or more        17.2        16.2
    Became more worried about income          9.3        13.0
    Became less worried about income        24.1        19.5
    Became more worried about not being productive        15.9        18.4
    Became less worried about not being productive        18.2        15.8
    Health shock        21.1        20.6
    OOP medical expenses jump by 25% or more        47.3        47.7
    Lost health insurance        15.0        16.2
Year
    1992          4.0          2.9
    1993        15.5        27.1
    1994        17.7        12.3
    1995        17.7        22.5
    1996        17.1        11.1
    1997        18.9        18.7
    1998          9.2          5.5
  • Notes: Sample is all individuals observed at least four years after first retirement. All dollar amounts in 2000 dollars.