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How are pension integration and pension benefits related?

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Author Info

  • Bender, Keith A.

Abstract

Pension integration is the ability to allow differentiated pension benefits across earnings groups. In the academic literature, it is often described as a way for firms to reduce pension benefits (and therefore costs). Justified by the requirement that firms pay half of Social Security payments, integrated pensions are typically found to reduce benefits for lower income workers. Data on retirees from the Health and Retirement Study, however, reveal a more complex picture where some individuals receive more benefits when one of their pension plans is integrated, ceteris paribus. Some reasons are discussed why this might be the case.

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Bibliographic Info

Article provided by Elsevier in its journal The Quarterly Review of Economics and Finance.

Volume (Year): 49 (2009)
Issue (Month): 1 (February)
Pages: 26-41

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Handle: RePEc:eee:quaeco:v:49:y:2009:i:1:p:26-41

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Web page: http://www.elsevier.com/locate/inca/620167

Related research

Keywords: Integrated pensions Social Security Pension benefits;

References

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  6. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
  7. Garen, John & Berger, Mark & Scott, Frank, 1996. "Pensions, non-discrimination policies, and the employment of older workers," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(4), pages 417-429.
  8. Stuart Dorsey & Christopher Cornwell & David Macpherson, 1998. "Pensions and Productivity," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pp.
  9. Edward P. Lazear, 1983. "Incentive Effects of Pensions," NBER Working Papers 1126, National Bureau of Economic Research, Inc.
  10. Alan L. Gustman & Thomas L. Steinmeier & Olivia Mitchell, 1994. "The role of pensions in the labor market: A survey of the literature," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 47(3), pages 417-438, April.
  11. Joanne Salop & Steve Salop, 1976. "Self-selection and turnover in the labor market," Special Studies Papers 80, Board of Governors of the Federal Reserve System (U.S.).
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