How are pension integration and pension benefits related?
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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References listed on IDEAS
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- Robert C. Merton & Zvi Bodie & Alan J. Marcus, 1984.
"Pension Plan Integration as Insurance Against Social Security Risk,"
NBER Working Papers
1370, National Bureau of Economic Research, Inc.
- Robert C. Merton & Zvi Bodie & Alan Marcus, 1987. "Pension Plan Integration As Insurance Against Social Security Risk," NBER Chapters, in: Issues in Pension Economics, pages 147-172 National Bureau of Economic Research, Inc.
- Barry T. Hirsch & David A. Macpherson & Melissa A. Hardy, 2000.
"Occupational Age Structure and Access for Older Workers,"
Cornell University, ILR School, vol. 53(3), pages 401-418, April.
- Barry T. Hirsch & David A. Macpherson & Melissa A. Hardy, 2000. "Occupational age structure and access for older workers," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 53(3), pages 401-418, April.
- Heckman, James J, 1979.
"Sample Selection Bias as a Specification Error,"
Econometric Society, vol. 47(1), pages 153-61, January.
- Alan L. Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, 1994.
"The Role of Pensions in the Labor Market: A Survey of the Literature,"
Cornell University, ILR School, vol. 47(3), pages 417-438, April.
- 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.
- John S. Heywood & Lok-Sang Ho & Xiangdong Wei, 1999. "Determinants of hiring older workers: Evidence from Hong Kong," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 52(3), pages 444-459, April.
- Edward P. Lazear, 1983.
"Incentive Effects of Pensions,"
NBER Working Papers
1126, National Bureau of Economic Research, Inc.
- Joanne Salop & Steven Salop, 1976. "Self-Selection and Turnover in the Labor Market," The Quarterly Journal of Economics, Oxford University Press, vol. 90(4), pages 619-627.
- William E. Even & David A. Macpherson, 1996.
"Employer size and labor turnover: The role of pensions,"
Industrial and Labor Relations Review,
ILR Review, Cornell University, ILR School, vol. 49(4), pages 707-728, July.
- William E. Even & David A. MacPherson, 1996. "Employer Size and Labor Turnover: The Role of Pensions," ILR Review, Cornell University, ILR School, vol. 49(4), pages 707-728, July.
- Joanne Salop & Steven C. Salop, 1976. "Self-selection and turnover in the labor market," Special Studies Papers 80, Board of Governors of the Federal Reserve System (U.S.).
- repec:eee:quaeco:v:36:y:1996:i:4:p:417-429 is not listed on IDEAS
- Stuart Dorsey & Christopher Cornwell & David Macpherson, 1998. "Pensions and Productivity," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pp, October.
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