Description: A discussion of pension reform in China at the time of the July 1997 introduction of a new unified pension system.

Description: This article is a review of “1972 Lifetime Earnings by Age, Sex, Race, and Education Level, Research and Statistics Note No. 14-1975,” published by the Social Security Administration, which presents detailed data by quinquennial age groups, sex, race, and years of school completed as to the present value of future earnings based on static earnings levels 1972. It is stated that such data can be used for general analytical purposes to form policy, for court determinations of awards in damage suits, and for cost-benefit analysts in such areas as disease prevention and education programs. The author of this article notes in his analysis the inconsistency of the static salary assumptions with a range of interest rates from 2% to 8%.