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TABLE D4

Median Pre-Retirement Wage Replacement Rates Provided by Private Pension Annuities and Social Security *by year of initial benefit receipt:¹pension recipients age 55 and older* (replacement rates computed using nominal dollars for pre-retirement wages)
Year of Initial Pension Benefit Receipt	Replacement Rate for Pension Only Recipients		Replacement Rate for Pension and Social Security Recipients				Replacement Rate for All Pension Recipients
Year of Initial Pension Benefit Receipt	Number of Recipients (in thousands)	Percent of Wage Replaced by Private Pension	Number of Recipients (in thousands)	Percent of Wage Replaced by Private Pension	Percent of Wage Replaced by Social Security	Combined Replacement Rate^2/	Number of Recipients (in thousands)	Percent of Wage Replaced by Private Pension	Percent of Wage Replaced by Social Security	Combined Replacement Rate^2/
TOTAL
Total	1,185	34	5,652	25	37	67	6,837	26	31	61
Prior to 1975	37	^3/	480	29	73	107	516	30	71	107
1975-79	49	^3/	733	26	59	86	782	25	56	86
1980-84	115	37	1,305	25	40	68	1,421	26	39	66
1985-89	283	34	1,632	25	34	62	1,916	27	30	57
1990-94^4/	654	31	1,319	25	31	59	1,974	26	24	50
MEN
Total	852	35	3,849	28	35	65	4,701	29	29	60
Prior to 1975	30	^3/	328	28	60	94	358	31	58	87
1975-79	47	^3/	500	29	54	84	547	29	51	83
1980-84	94	32	888	29	39	66	982	29	37	64
1985-89	219	35	1,136	28	30	60	1,355	30	27	55
1990-94^4/	436	36	876	27	30	60	1,312	28	23	51
WOMEN
Total	333	22	1,803	21	44	72	2,136	21	37	64
Prior to 1975	7	^3/	151	30	101	146	158	30	101	146
1975-79	2	^3/	233	22	77	94	235	22	77	94
1980-84	22	^3/	417	19	53	76	439	19	50	76
1985-89	64	3/	497	21	41	71	561	20	37	61
1990-94^4/	218	22	443	21	34	58	661	21	29	49

^1/ Pre-retirement wage is defined as the annual wage received during the year prior to retirement.

^2/ Although the combined replacement rate for each retiree is equal to the sum of the replacement rates provided by the private plan and Social Security, the median combined replacement rate for groups shown in this table does not have this additive property.

^3/ Not computed where base is less than 75,000.

^4/ Excludes persons retiring during the last 3-4 months of 1994.

SOURCE: Retiree Pension and Health Benefits Supplement to the September 1994 Current Population Survey.

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