The Retention Effects of High Years of Service Cliff-Vesting Pension Plans

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Author
Cunha, Jesse
Menichini, Amilcar
Crockett, Adam
Date
2014-09-26
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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.
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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.
 
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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.
URI
http://hdl.handle.net/10945/44909
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