The Pension Cost of Changing Jobs / Steven G. Allen, Robert L. Clark, Ann A. McDermed.

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Allen, Steven G

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w2935.Publication details: Cambridge, Mass. National Bureau of Economic Research 1989.Description: 1 online resource: illustrations (black and white)Online resources:

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Abstract: Workers covered by defined benefit pension plans receive lower benefits at retirement if they leave their current job before reaching retirement age. This study estimates the magnitude of this pension loss for workers in the May 1983 supplement of the Current Population Survey, using pension formula estimates from the 1983 Employee Benefit Survey. The pension loss is generally greatest between the ages of 35 and 54 and represents roughly half of a year's earnings for that age group. The loss tends to be quite high in the declining mining and manufacturing sectors. This probably resulted in lower voluntary attrition at a time of massive layoffs and plant closings.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w2935 (Browse shelf(Opens below))	Not For Loan

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Previous	nber w29347 Rethinking Exchange Rate Regimes /	nber w29348 Outsourcing, Inequality and Aggregate Output /	nber w29349 Illuminating the Effects of the US-China Tariff War on China's Economy /	nber w2935 The Pension Cost of Changing Jobs /	nber w29350 Gender Preferences in Job Vacancies and Workplace Gender Diversity /	nber w29351 What Drives Variation in the U.S. Debt/Output Ratio? The Dogs that Didn't Bark /	nber w29352 Tax Policy Design with Low Interest Rates /	Next

April 1989.

Workers covered by defined benefit pension plans receive lower benefits at retirement if they leave their current job before reaching retirement age. This study estimates the magnitude of this pension loss for workers in the May 1983 supplement of the Current Population Survey, using pension formula estimates from the 1983 Employee Benefit Survey. The pension loss is generally greatest between the ages of 35 and 54 and represents roughly half of a year's earnings for that age group. The loss tends to be quite high in the declining mining and manufacturing sectors. This probably resulted in lower voluntary attrition at a time of massive layoffs and plant closings.