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ERIC Number: ED560682
Record Type: Non-Journal
Publication Date: 2015-Feb
Pages: 45
Abstractor: As Provided
Reference Count: 52
ISBN: N/A
ISSN: N/A
Pension Enhancements and the Retention of Public Employees: Evidence from Teaching. Working Paper 123
Koedel, Cory; Xiang, P. Brett
National Center for Analysis of Longitudinal Data in Education Research (CALDER)
We use data from workers in the largest public-sector occupation in the United States -- teaching -- to examine the effect of pension enhancements on employee retention. Specifically, we study a 1999 enhancement to the benefit formula for public school teachers in St. Louis that resulted in an immediate and dramatic increase in their incentives to remain in covered employment. To identify the effect of the enhancement on teacher retention, we leverage the fact that the strength of the incentive increase varied across the workforce depending on how far teachers were from retirement eligibility when it was enacted. Although we document substantial differences across teachers in how their retention incentives were affected by the enhancement, our results indicate that these differences did not translate into meaningful changes in behavior. The following are appended: (1) Pension-Wealth Calculation Details; (2) Supplementary Tables; and (3) Using a Cost-Benefit Framework to Gain Insight about Novice Teachers.
National Center for Analysis of Longitudinal Data in Education Research. American Institutes for Research, 1000 Thomas Jefferson Street NW, Washington, DC 20007. Tel: 202-403-5000; Fax: 202-403-5454; e-mail: inquiry@caldercenter.org; Web site: http://www.caldercenter.org
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Laura and John Arnold Foundation; Institute of Education Sciences (ED)
Authoring Institution: National Center for Analysis of Longitudinal Data in Education Research (CALDER) at American Institutes for Research
Identifiers - Location: Missouri
IES Funded: Yes
Grant or Contract Numbers: R305C120008