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Comparing the Effects of Current Pay and Defined Benefit Pensions on Employee Retention: Working Paper 2018-06

Justin Falk and Nadia Karamcheva

No 54056, Working Papers from Congressional Budget Office

Abstract: Federal, state, and local governments continue to consider reducing the cost of their defined benefit pensions by decreasing annuity payments or having employees contribute a larger portion of their salaries toward them, thus reducing those workers’ current pay. Such reductions to compensation can decrease the human capital of a workforce through lower employee retention. Using data that span more than 30 years and reflect substantial policy changes to federal workers’ salary schedules and pension structure, we estimate that the average elasticity of job tenure with respect

JEL-codes: J26 J33 J45 (search for similar items in EconPapers)
Date: 2018-06-21
New Economics Papers: this item is included in nep-age and nep-hrm
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