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<p>This thesis investigates the wage and salary differentials experienced by military retirees in their post-service second career in the civilian labor market. The 1990 Census of Population and Housing, Public Use Microdata Samples was used as the source of data. Log earnings regression models were specified and estimated to determine earnings differences between military retirees and two comparison groups. The effects of the number of weeks and hours worked, education, location and receiving retirement income were controlled in the earnings regressions. The results indicate the proportion of military retirees not in the labor force is substantially higher than the proportion of non-veteran civilians or non-retired veterans not in the labor force. The data also reveals that retirees tend to work less weeks per year and hours per week. Finally, retirees earn on average $4,347 less annually than both comparison groups. Thus, military retirees not only tend to work less but when they do work they tend to take jobs that pay less. The present value of the earnings difference between a retiree and a non-retired veteran is approximately $48,534 (11.38 percent)
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Bakos, Barry</div>
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