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: Day on TortsWork Life Expectancy Tables
By John A. Day
Economists in personal injury cases and wrongful death cases often consider work life expectancy tables in calculating future economic losses.
As explained on this website, "[m]any laypersons (and some experts) assume that [worklife expectancy] is the number of years until the person turns 65, the historic age for full social security retirement. This assumption is incorrect for two basic reasons: many people retire at different ages (usually earlier) and the average person has some breaks in employment (perhaps involuntary) before retirement."
The factors taken into account in determining work life expectancy are age, gender, education and level of work disability.
To learn more visit the Vocational Econometrics website.
Full post as published by Day on Torts on April 29, 2009 (boomark / email).
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