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Contributors, Index Forecasting Retirement Needs and Retirement Wealth Edited by Olivia S. Mitchell, P. Brett Hammond, and Anna M. Rappaport Pension Research Council The Wharton School of the University of Pennsylvania PENN University of Pennsylvania Press Philadelphia Copyright © 2000 The Pension Research Council of The Wharton School of the University ofPennsylvania All rights reserved Printed in the United States ofAmerica on acid-free paper 10 9 8 7 6 5 4 3 2 I Published by University ofPennsylvania Press Philadelphia, Pennsylvania 19104-4011 Library ofCongress Cataloging-in-Publication Data Forecasting retirement needs and retirementwealth / edited by Olivia S. Mitchell, P. Brett Hammond, and Anna M. Rappaport. p. em. "Pension Research Council Publications" Includes bibliographical references and index. ISBN 0-8122-3529-{) Calk. paper) 1. Retirement income- United States-Planning. I. Mitchell, Olivia S. II. Hammond, P. Brett. III. Rappaport, Anna M. HG179.F577 1999 332.024'01. -dc21 9941733 CIP Contributors John Ameriks is a PhD candidate in the Department of Economics at Columbia University and a senior research associate in the Strategic Research unit at TIAA­ CREF. He is completing his doctoral dissertation on the subject ofindividual asset allocation behavior in designated retirement accounts. Previously, Mr. Ameriks was a research associate at Economists Incorporated. He received the BA from Stanford University and the MA and M. Phil. from Columbia University. Charles Brown is Professor of Economics and Research Scientist at the Survey Re­ search Center at the University of Michigan. His research interests include a diverse set oftopics in labor economics, such as compensating differentials, equal­ opportunity programs, unions and productivity, minimum wage laws, employer size and wages, the accuracy ofsurvey data, and offers ofearly retirementwindows. Previously, Dr. Brown taught at the Department ofEconomics at the University of Maryland. He received the AB and MA from Boston College, and the PhD from Harvard University. Robert L. Clark is Professor ofBusiness Management and Economics at NOl"th Car­ olina State University. His research interests include how firms use employee benefits to achieve personnel objectives, government regulation ofemployee ben­ efit programs, international employee benefits, retirement policies, and the eco­ nomic response to population aging. He is a member ofthe American Economic Association, the Gerontological Society ofAmerica, the International Union for Scientific Study ofPopulation, and the National Academy ofSocial Insurance. Dr. Clark earned a BA from Millsaps College and MA and PhD degrees from Duke University. Debra Sabatini Dwyer is an Assistant Professor at the SUNY-Stonybrook Department of Economics. Her research interests include aging, health and work, disability policy, and measurement error in survey data. Previously, she did postdoctoral research at the Center for Policy Research at Syracuse University. Dr. Dwyer re­ ceived the MS and PhD in Labor Economics from Cornell University. Gordon P. Goodfellow is a senior associate of Research and Information Center at Watson Wyatt Worldwide, where he has specialized in the analysis ofsocial security policy and private defined contribution plans. Previously, he worked with the Office of the Assistant Secretary for Planning and Evaluation as a senior policy analyst and project manager ofthe Panel Study ofIncome Dynamics. Alan L. Gustman is Loren M. Berry Professor of Economics at Dartmouth College. His areas of research are labor economics and the economics of aging. He is a Research Associate at the National Bureau ofEconomic Research and a member 362 Contributors of the National Academy of Social Insurance. Dr. Gustman serves on advisory panels to the University of Michigan for the design of its Health and Retirement Survey and to the Bureau of Labor Statistics for its National Longitudinal Survey. From 1976 to 1977 he served as Special Assistant for Economic Affairs for the U.S. Department ofLabor. He holds a BA from City College of New York and a PhD in economics from University ofMichigan. P. Brett Hammond is Manager of Corporate Projects at the Teachers Insurance Annuity Association-College Retirement Equities Fund (TIAA-CREF). His re­ search publications are in the areas of pensions, higher education, science and technology, finance, and health policy. Dr. Hammond received the bachelor's degree in economics and politics from the University of California, Santa Cruz and the PhD in public policy from MIT. MaIjorie Honig is Professor of Economics at Hunter College and the Graduate School ofCUNY. Her research interests focus on issues related to the economics of aging, with emphasis on individual retirement decisions and the roles of social security and employer pensions. Her current research examinesworkers' expecta­ tions regarding retirement income and the timing ofretirement. She is a member ofthe Advisory Board for the Brookdale Foundation National Fellowship Program and is an advisor to the International Longevity Center ofthe Mount Sinai Medical Center. Dr. Honig received the PhD in economics from Columbia University. JiantingHu is Economist at the Social SecurityAdministration. His research interests include social security and disability issues, and econometrics. He received the PhD in economics from New York University. Phillip B. Levine is Associate Professor of Economics at Wellesley College. His re­ search interests focus on policy-relevant topics including unemployment insur­ ance, welfare policy, and the effects ofdemographic change in labor markets. Dr. Levine is a faculty research fellow at the National Bureau ofEconomic Research. He has served as a senior economist at the White House Council of Economic Advisers on issues relating to the labor market, education, and welfare policy. Dr. Levine received the BS from Cornell University and the PhD from Princeton University. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Pro­ fessor ofInsurance and Risk Management, and Executive Director of the Pension Research Council, of the Wharton School at the University of Pennsylvania. Her research interests include the economics of retirement and benefits, social se­ curity and pensions, and public as well as private insurance. Dr. Mitchell is also a Research Associate at the National Bureau of Economic Research and she serves on the Steering Committee for the University of Michigan's HRSjAHEAD proj­ ects, funded by the National Institute on Aging. Her previous academic positions included a faculty appointment at Cornell University and visiting scholar at Har­ vard University. Dr. Mitchell received the BS in economics from Harvard Univer­ sity, and the PhD in economics from the University ofWisconsin. James F. Moore is a PhD candidate in the Department of Insurance and Risk Man­ agement at the Wharton School of the University of Pennsylvania. His research interests include retirement saving behavior, securitization ofinsurance risk, inno­ vation in insurance and securities markets. Previously, Mr. Moore was a pension consultantwith William M. Mercer, Inc. He received the BS in Applied Mathemat­ ics and Economics from Brown University. Jan Olson is Social Science Analyst at the Office ofResearch, Evaluation, and Statis­ tics of the Social Security Administration. Her research interests include retire­ ment and income security. Dr. Olson received the PhD from Cornell University. John W. Phillips is an economist at the Social SecurityAdministration. Previously he Contributors 363 was a Postdoctoral Fellow at the Population Studies Center, University ofPennsyl­ vania. His research interests include labor economics and public finance. Pre­ viously, Dr. Phillips taught at Syracuse University. He received the BA and PhD in economics from Syracuse University. Joseph F. Quinn is Professor ofEconomics at Boston College. His research focuses on the economics of aging, with emphasis on the economic status of the elderly, the determinants ofindividual retirement decisions, and patterns oflabor force with­ drawal among older Americans. Professor Quinn is a founding member of the National Academy of Social Insurance, and serves on the Board of Governors of the Foundation for International Studies on Social Security, the (Massachusetts) Governor's Council on Economic Growth and Technology, the Executive Board of the Gordon Public Policy Center at Brandeis University, and the Editorial Board of the Review of Income and Wealth. He recently co-ehaired (with Olivia Mitchell of the Wharton School) the Technicial Panel on Trends and Issues in Retirement Saving for the 1995-96 Social Security Advisory Council. Professor Quinn received his undergraduate education at Amherst College and the PhD in economics from MIT. Anna M. Rappaport, FSA, is Managing Director ofWilliam M. Mercer, Incorporated specializing in strategy for retirement benefits. Her areas ofinterest include dem­ ographics and the aging society, and the impact ofretirement systems on women. Currently Ms. Rappaport is serving as President of the Society ofActuaries. She is a Board member of the Pension Research Council, a member of the National Academy of Social Insurance, a member of the American Academy ofActuaries, and a member of the Chicago Network. She is Fellow of the Society ofActuaries and she has an MBA from the University ofChicago. Andrew A. Samwick is Assistant Professor ofeconomics at Dartmouth College and a faculty research fellow of the National Bureau
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