UM15-09 - Retirement Options and Outcomes for Public EmployeesLeslie E. Papke
The goal of this research is to analyze the effects of state public pension parameters and Social Security participation on retirement timing, mobility and post-retirement re-employment for public employees. The HRS includes four cohorts - all the same age when they entered the survey (age 51-56 in 1992, 1998, 2004, 2010) - that experience different pension landscapes as they approach and enter retirement. I will analyze the effects of state public pension parameters like early retirement age, employee contribution rates and benefit generosity on the timing of first retirement, post-retirement mobility and re-employment for both teachers and state and local workers. I will exploit differences across state pension plans to measure the value to participants of pension plan characteristics and benefits, and the role Social Security plays in retirement income security for public employees. These findings will inform public policy debates concerning future pension policy toward public employees.