SELECTION AMONG EMPLOYER‐SPONSORED PENSION PLANS: THE ROLE OF INDIVIDUAL DIFFERENCES
研究调查了员工在三种雇主资助养老金计划（固定收益、固定缴费和混合现金余额）中的选择决定因素，发现员工对计划特征的偏好显著影响其选择，挑战了传统观点。
Recognizing the explosive growth and increasing importance of alternative forms of retirement plans, this study investigated determinants of employees' choice among the three major types of employer‐sponsored pension plans: defined benefit, defined contribution, and hybrid cash balance. Using a field survey of 2,400 employees who participated in a state sponsored retirement system covering 60 participating employers, we tested a general model of public employee pension choice, and examined the roles of plan feature preferences, employee attitudes, and demographics in pension plan participation choices. The results identified primary predictors distinguishing plan selection and indicated that employees' preferences for plan features explained significant variation in their selection among pension plans. The results challenged the conventional wisdom regarding the nature of pension plan choice and highlighted the critical role played by individual differences.