Table 3.

Retiree Health Insurance Impact on Household Wealth

Explanatory	Mean	HH net wealth + DC mean = $449,672

RHI*federal	0.05	−116,210.6^*** (25,130.5)	−116,396.0^*** (26,301.3)
RHI*stlocal	0.1	−37,813.5 (33,950.0)	−34,351.7 (34,166.4)
RHI*private	0.32	11,793.8 (17,078.6)	10,866.9 (16,971.1)
Male	0.51	17,841.3 (12,193.3)	16,924.5 (12,295.5)
White	0.80	96,785.8^*** (15,154.1)	101,848.6^*** (15,863.7)
Hispanic	0.08	−45,999.0^*** (17,147.0)	−77 274 5^*** (22,821.3)
LT high school	0.21	−63,590.8^*** (15,539.6)	−59,101.5^*** (15,571.4)
Some college	0.19	114,659.5^*** (21,844.4)	106,570.2^*** (21,733.1)
Graduate school	0.11	178,904.9^*** (36,225.5)	179,043.6^*** (35,988.8)
Married	0.81	107,463.6^*** (18,363.0)	111,588.8^*** (18,358.0)
Children number	2.94	−14,264.6^*** (3,513.3)	−14,479.5^*** (3,479.6)
Poorhealth	0.13	−51,850.8^*** (16,223.7)	−52,128.9^*** (16,370.2)
Work part time	0.13	37,767.8^* (21,264.6)	35,670.1^* (21,267.0)
Selfemployed	0.15	285,491.4^*** (29,034.2)	283,734.8^*** (28,712.3)
HH income/1000 ($)	102.30	2,951.1^*** (266.9)	2,909.0^*** (258.8)
Stlocal	0.15	−17,866.3 (31,114.5)	−21,969.4 (31,245.7)
HH DB wealth/1000 ($)	161.18	−80.8^** (34.1)	−89.0^*** (34.1)
Cognition	24.56	3,971.5^** (1,707.8)	3,743.0^** (1,715.4)
Expected retirement	63.22	−4,843.6^*** (1,851.2)	−4,771.8^** (1,864.7)
Job tenure, 10–19 years	0.35	61,618.8^*** (16,059.5)	62,605.1^*** (16,100.8)
Job tenure, 20–24 years	0.13	132,757.1^*** (24,488.9)	138,508.1^*** (24,789.9)
Job tenure, 25+ years	0.27	142,783.3^*** (19,680.5)	147,214.9^*** (19,854.6)
Years until age 65	10.91	−13,541.4^*** (1,704.0)	−13,558.2^*** (1,711.0)

State controls		N	Y
R-squared		0.36	0.37
N		6,650	6,650

Note:

coefficient significant at the 10%;

^**

5%;

^***

1% level.

Missing value controls for explanatory variables also included.