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TABLE D5

Median Pre-Retirement Wage Replacement Rates Provided by Private Pension Annuities and Social Security by year of initial annuity benefit receipt:^1/ pension recipients age 55 and older (replacement rates computed using 1994 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	26	5,652	17	25	45	6,837	18	22	41
Prior to 1975	37	^3/	480	9	23	35	516	9	22	33
1975-79	49	3/	733	11	23	36	782	11	22	36
1980-84	115	24	1,305	15	25	43	1,421	15	24	42
1985-89	283	26	1,632	19	24	46	1,916	20	21	41
1990-94^4/	654	28	1,319	22	27	51	1,974	23	21	45
MEN
Total	852	28	3,849	18	23	44	4,701	20	20	41
Prior to 1975	30	^3/	328	8	20	29	358	9	19	27
1975-79	47	^3/	500	11	21	35	547	11	21	35
1980-84	94	24	888	17	24	42	982	17	23	41
1985-89	219	26	1,136	21	22	45	1,355	23	19	41
1990-94^4/	436	32	876	24	25	51	1,312	25	19	45
WOMEN
Total	333	20	1,803	13	30	48	2,136	14	26	43
Prior to 1975	7	^3/	151	10	26	41	158	10	26	41
1975-79	2	^3/	233	9	31	40	235	9	31	40
1980-84	22	^3/	417	11	28	46	439	11	26	46
1985-89	64	^3/	497	16	30	50	561	16	28	46
1990-94^4/	218	19	443	18	30	52	661	19	23	41

^1/P re-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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