Affiliation:
1. Cory Koedel is an Associate Professor in the Department of Economics and the Truman School of Public Affairs at the University of Missouri. P. Brett Xiang is a Graduate Student in the Department of Economics at the University of Missouri.
Abstract
The authors 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, they study a 1999 enhancement to the benefit formula for public school teachers in St. Louis, Missouri, 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, the analysis leverages 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. The results indicate that the St. Louis enhancement—which was structurally similar to enhancements that were enacted in other public pension plans across the United States in the late 1990s and early 2000s—was not a cost-effective way to increase employee retention.
Subject
Management of Technology and Innovation,Organizational Behavior and Human Resource Management,Strategy and Management
Cited by
12 articles.
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