Tag: baby boomers
Introduction It is generally agreed that each generation of taxpayers should pay the full cost of the public services it receives. If a public employee’s compensation includes a defined benefit pension, the cost of the benefit earned in that year should be recognized, and funded, at the time the worker performs that service, not when…
Abstract As the baby boomers begin to retire, a great deal remains unknown about the evolution of wealth toward the end of life. In this paper, we develop a new measure of household resources that converts total financial, nonfinancial, and annuitized assets into an expected annual amount of wealth per person. We use this measure,…
