How Teachers Respond to Pension System Incentives: New Estimates and Policy Applications

Shawn Ni () and Michael Podgursky

No 1510, Working Papers from Department of Economics, University of Missouri

Abstract: Rising costs of public employee pension plans are a source of ?scal stress in many cities and states and have led to calls for reform. To assess the economic consequences of plan changes it is important to have reliable statistical models of employee retirement behavior. The authors estimate a structural model of teacher retirement using administrative panel data. A Stock-Wise option value model provides a good ?t to the data and predicts well out-of-sample on the e?ects of pension enhancements during the 1990s. The structural model is used to simulate the e?ect of alternatives to the current de?ned bene?t plan.

Keywords: teacher pensions; school staffing; school finance. (search for similar items in EconPapers)
JEL-codes: I21 J26 J38 (search for similar items in EconPapers)
Pages: 40
Date: 2015-08
New Economics Papers: this item is included in nep-age, nep-edu, nep-lma and nep-ure
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Related works:
Journal Article: How Teachers Respond to Pension System Incentives: New Estimates and Policy Applications (2016)
Working Paper: How Teachers Respond to Pension System Incentives: New Estimates and Policy Applications (2015)
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