"Some economists suggest that pensions do not add to 'retirement wealth'-- which includes the value of private pensions, Social Security, homes, and other assets -- because, for a variety of reasons, higher pension values are offset by reducing saving held in other forms. However, according to a recent study by NBER Research Associate Alan Gustman and co-author Thomas Steinmeier, 'the overall effect of pensions is to increase total wealth, probably by considerably more than half the value of the pension.'"  MORE >>