INCOME INEQUALITY

Table of Contents
Executive Summary . 5
Introduction. 7
Section I: Review of Literature on Pensions and Income Inequality and Economic Growth . 10
Income Inequality in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Pensions and Economy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Pensions and Income Inequality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Income Inequality and Economic Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Section II: What Do the National Trends in Public and Private Pensions, Income Inequality,
and Economic Growth Reveal? . 14
Income Inequality and Pension Reforms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Income Inequality and Economic Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Section III: What Do the State Trends in Public Pensions, Income Inequality, and Economic Growth Reveal?. 17
Correlation between Income Inequality and Pension Changes in the States. . . . . . . . . . . . . . . . . 17
Correlation between Income Inequality and Economic Growth. . . . . . . . . . . . . . . . . . . . . . 17
Section IV: Conclusions. 19
Appendix A . 21
Appendix B . 23
Appendix C. 25
INCOME INEQUALITY: HIDDEN ECONOMIC COST OF PREVAILING APPROACHES TO PENSION REFORMS | 3