Affiliation:
1. Dan Goldhaber is the Director of CALDER at the American Institutes for Research, and Director of the Center for Education Data & Research, University of Washington, Bothell. Cyrus Grout is a Consulting Researcher at the Center for Education Data & Research, University of Washington, Bothell. Kristian L. Holden is a Researcher at the American Institutes for Research.
Abstract
Public pension systems in many U.S. states face large funding shortfalls, and policymakers have considered moving toward defined contribution (DC) pension structures in the interest of reducing the likelihood of future shortfalls. Concerns exist, however, that such changes might increase levels of employee turnover. The empirical evidence on the relationship between pension structure and turnover is mixed, and is quite limited in the case of public-sector plans. The authors study a single class of public-sector employees (teachers) who are enrolled in either a traditional defined benefit (DB) plan or a hybrid DB-DC plan during overlapping periods of time. Contrary to conventional wisdom, the authors find little evidence that the introduction of the hybrid plan increased employee turnover; in fact, they find that turnover is lower among teachers who transferred out of the DB plan into the hybrid plan. Employers may benefit by shifting the debate away from plan structure per se and toward a discussion of how to provide employees with pension plans they will highly value.
Funder
Institute of Education Sciences
Laura and John Arnold Foundation
Subject
Management of Technology and Innovation,Organizational Behavior and Human Resource Management,Strategy and Management
Reference21 articles.
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