Pension Choices and the Savings Patterns of Public School Teachers

Autor/inn/en	Goldhaber, Dan; Grout, Cyrus
Titel	Pension Choices and the Savings Patterns of Public School Teachers
Quelle	In: Education Finance and Policy, 11 (2016) 4, S.449-481 (33 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1557-3060
DOI	10.1162/EDFP_a_00208
Schlagwörter	Retirement Benefits; Money Management; Teacher Salaries; Age Differences; Decision Making; Correlation; Public School Teachers; Teaching Experience; Financial Needs; Washington + Suchen Sie Ihr Suchwort? Retirement pay; Ruhegehalt; Lehrerbesoldung; Lehrervergütung; Age; Difference; Age difference; Altersunterschied; Decision-making; Entscheidungsfindung; Korrelation
Abstract	This paper examines the savings behavior of public school teachers who are enrolled in a hybrid pension plan that includes a defined contribution (DC) component. Few states have incorporated DC features into teacher pension systems and little is known about how providing teachers with greater control over deferred compensation might affect their savings behavior--an important determinant of retirement security. We find the retirement savings choices of teachers--how much they opt to contribute to a DC retirement account--to be generally consistent with that of their peers in the private sector. In particular, age and salary are positively correlated with contribution rates, and contribution rates increase with teaching experience. Importantly, our analysis of retirement wealth suggests that Washington's hybrid plan is likely to provide a level of retirement security for a typical teacher that is comparable to or greater than that provided by the state's pure defined benefit plan. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01