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

Format:

Book

Author/Creator:

Allen, Steven G.

Contributor:

National Bureau of Economic Research.

Clark, Robert L.

McDermed, Ann A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w2935.

NBER working paper series no. w2935

Language:

English

Subjects (All):

Retirement income.

Working class.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1989.

Cambridge, Mass. : National Bureau of Economic Research, 1989.

Summary:

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.

Notes:

Print version record

April 1989.