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Aging, Pension Income, and Taxes in Hawaii Report to the ...
1 October 9, 2002 aging , Pension income , and Taxes in Hawaii Report to the State of Hawaii Tax Review Commission by Andrew Mason Executive Summary Over the foreseeable future, the number of retirees will grow much more rapidly than the number of workers. The percentage of Hawaii s population 65 and older is projected to increase from 13% in 2000 to in 2030 and to nearly 30% by 2075. Currently there are about 22 persons 65 and older for every 100 persons of working-age (20-64). By 2030 that number will more than double to 45 seniors for every 100 persons of working age. The aging of Hawaii s population will produce an important change in the State s income profile. Non-earned income , , pensions, social security benefits, will grow much more rapidly than earnings.
Aging, Pension Income, and Taxes in Hawaii Report to the State of Hawaii Tax Review Commission by An drew Mason ... 1 More detailed information is available in Tax Information Release No. 96 -5 and Schedule J, which are reproduced in Appendix B. 4 pensions and social security. Four policies are considered: maintaining the status quo,
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