the expected wait until the pension commences affect the timing of retirement from the Federal service. (2) The rate of …We consider the retirement behavior of civilian employees of the United States government. Unlike previous studies … and employer-provided pensions for which employees are (or ultimately will be) eligible. These data permit us to specify …

Most state and local retirement plans strive for full funding, at least by actuarial standards. Funding measured at … market values fluctuates and often falls short. A common argument for full funding is that pensions are a form of deferred … intermediation costs, returns on pension assets are less than taxpayers' cost of borrowing. Pension funding is costly and hence zero …

Most countries have separate pension plan for public sector employees. The future fiscal burden of these plans can be … substantial as the government usually is the largest employer, pension promises in the public sector tend to be relatively … generous, and future payments have to be paid out directly from government revenues (pay-as-you-go) or by funded plans (pension …

Choices regarding the disposition of wealth at retirement can have substantial implications for retirement income … security. We analyze the factors determining annuity option choices offered by a public sector defined pension plan with no … find that these groups of retirees report very different levels of well-being in retirement …

longitudinal examination of pension retirement incentives in several dozen plans observed between about 1960 to 1980. The plans … in the age at which pension present values peak (with retirement after that age penalized). We also find that simple … indicators of pension plans' structural features (e.g. the plan's early retirement age) do not adequately summarize the complex …

The manifest purposes of integrating an employer-provided pension plan with social security are:(1) to ensure … retirement income adequacy for all covered employees; and (2) to ensure retirement income equity, defined as equal total … employees against adverse changes in their social security retirement benefit. Using the option-pricing methodology of modern …

This paper provides evidence on the investment behavior of 27 state pension plans that manage their own equity …’s primary industry. We also find that state pension plans are more likely to hold a within-state stock if the headquarters of … politically-motivated holdings yield excess returns for the pension fund …

's Trust corporate pension plan study. A model is developed that shows how pension values which vary with the age of retirement …-best optimum. This requires that pension values decline with the age of retirement beyond a certain point. Evidence from the 1975 … important is that the ratio of early retirement pension value to normal retirement pension value has increased …

value of pensions by only fourteen percent. Simulation analysis allows an examination of the effects of pension COLA … provisions on the key incentives emphasized in the pension literature, incentives affecting the retirement, turnover and shirking …This paper studies cost of living adjustments in pensions from the perspective of labor economics. Evidence from …

) pension plans is the degree to which assets in DC plans will be withdrawn before plan participants reach retirement age. The … of new contributions to IRAs and other targeted retirement saving programs. This paper draws on data from the 1993 … Current Population Survey and the Health and Retirement Survey to summarize the incidence and disposition of lump sum …