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Transitions from career employment among public- and private-sector workers

Author

Listed:
  • Quinn, Joseph F.
  • Cahill, Kevin E.
  • Giandrea, Michael D.

Abstract

Do the retirement patterns of public-sector workers differ from those in the private sector? The latter typically face a retirement landscape with exposure to market uncertainties through defined-contribution pension plans and private saving. Public-sector workers, in contrast, are often covered by defined-benefit pension plans that encourage retirement at relatively young ages and offer financial security at older ages. We examine how private- and public-sector workers transition from full-time career employment, with a focus on the importance of gradual retirement. To our surprise, we find that the prevalence of continued work after career employment, predominantly on bridge jobs with new employers, is very similar in the two sectors, a result with important implications in a rapidly aging society.

Suggested Citation

  • Quinn, Joseph F. & Cahill, Kevin E. & Giandrea, Michael D., 2019. "Transitions from career employment among public- and private-sector workers," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(4), pages 529-548, October.
    • Handle: RePEc:cup:jpenef:v:18:y:2019:i:04:p:529-548_00
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    Cited by:

    1. Leiv Opstad, 2021. "Is there a Trade-Off between Financial Rewards and Other Job Benefits? Different Career Pathways for two Groups of Management Students," International Journal of Social Sciences, European Research Center, vol. 10(2), pages 15-30, September.
    2. Fitzpatrick, Maria D., 2019. "Pension reform and return-to-work policies," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(4), pages 500-514, October.
    3. Clark, Robert L. & Hammond, Robert G. & Liu, Siyan, 2021. "Work after retirement: worklife transitions of career public employees," Journal of Pension Economics and Finance, Cambridge University Press, vol. 20(3), pages 341-356, July.

    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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