Does Pension Plan Structure Affect Turnover Patterns?
研究美国联邦雇员从传统固定收益型养老金转向混合计划后，发现30多岁至50多岁员工的离职率提高了三分之一，提示政策制定者需关注养老金改革对劳动力稳定的影响。
Public pension plans face pressures to cut costs. Although government costs and retiree benefits drive changes in retirement plans, policy makers should also consider impacts on turnover and retirement behavior. In the mid-1980s, Congress moved new federal employees from a traditional defined benefit (DB) pension plan to a new hybrid plan, comprised of a smaller DB plan, Social Security, and a new defined contribution (DC) plan. Early analyses of the change from the Civil Service Retirement System (CSRS) to the Federal Employees Retirement System (FERS) found a decrease in turnover rates, but our analysis of a 1% sample of federal personnel records from 1979 to 2009 indicates that exit rates for federal employees in their late 30s to early 50s are one-third higher under FERS than they were for comparable employees under CSRS. Conversions to fully DC plans by state and local governments could have even larger impacts on the stability of their workforces.