Fenêtres et retraites

Robin L. Lumsdaine, James H. Stock and David A. Wise

Annals of Economics and Statistics, 1991, issue 20-21, 219-242

Abstract: The typical defined benefit pension plan provides substantial incentives to retire early, often as young as 55. In addition, in recent years many firms have offered "window" plans that provide further incentives to retire. Window plans provide special bonuses to a specific group of workers-often defined by age, occupational group, or even a division within the firm-if the worker retires within a specified period of time, typically a year or less. This paper presents estimates of the retirement effects of such window plans, based on the experience of a large Fortune 500 firm.

Date: 1991
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