The Retention Effects of High Years of Service Cliff-Vesting Pension Plans
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Authors
Cunha, Jesse
Menichini, Amilcar
Crockett, Adam
Subjects
Retention
Cliff vesting
Retirement
Cliff vesting
Retirement
Advisors
Date of Issue
2014-09-26
Date
Publisher
Elsevier
Language
Abstract
We study the retention effects of the Australian military’s decision to remove a 20-year cliff-vesting requirement from their retirement system in 1991. We follow to the present individuals who self-selected into and out of the 20-year cliff-vesting plan, as well as those who were forced out of the plan. Eliminating the high years of service cliff-vesting provision leads to consistently higher attrition over time.
Type
Article
Description
The article of record as published may be found at http://dx.doi.org/10.1016/j.econlet.2014.11.005
Supplementary material related to this article can be found online at http://dx.doi.org/10.1016/j.econlet.2014.11.005.
Supplementary material related to this article can be found online at http://dx.doi.org/10.1016/j.econlet.2014.11.005.
Series/Report No
Department
Graduate School of Business & Public Policy (GSBPP)
Organization
Identifiers
NPS Report Number
Sponsors
Funder
Format
Citation
Cunha, Jesse M., Amilcar A. Menichini, and Adam Crockett. "The retention effects of high years of service cliff-vesting pension plans." Economics Letters 126 (2015): 6-9.
Distribution Statement
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.