Retirement incentives are frequently used by school districts facing financial difficulties. They provide a means of either decreasing staff size or replacing retiring senior teachers with less expensive junior teachers. We analyze a one-time retirement incentive in a large school district paid to teachers willing to retire at the end of the…

The challenges of the COVID-19 pandemic led districts and schools to experiment with new staffing and support structures to meet students' academic, emotional, and physical safety needs. Shortages of teachers and substitute teachers, challenging conditions for student teaching, and early retirements all became pressing issues during this time.…

Rising costs of public employee pension plans are a source of fiscal stress in many cities and states and have led to calls for reform. To assess the economic consequences of plan changes it is important to have reliable statistical models of employee retirement behavior. The authors estimate a structural model of teacher retirement using…

We use data from workers in the largest public-sector occupation in the United States -- teaching -- to examine the effect of pension enhancements on employee retention. Specifically, we study a 1999 enhancement to the benefit formula for public school teachers in St. Louis that resulted in an immediate and dramatic increase in their incentives to…

There is a shortage of educators and there are various factors that account for the lack of teachers. Millions of new teachers will be needed in the near future and the present study juxtaposes the vocational personality profiles of adolescents (N = 262) participating in Future Educators of America programs in Georgia to in-service teachers'…

In this paper, we present an analysis of the Arkansas Teacher Retirement System (ATRS) pension plan and an empirical investigation of the behavioral response to that plan, as well as to a possible reform plan. We begin by describing the plan parameters and discussing the incentives these parameters create. We then estimate the effect of pension…

This paper exploits a major, unanticipated reform of the California teachers' pension to provide quasi-experimental evidence on the link between pension generosity and retirement timing. Using two large administrative datasets, the author conducts a reduced-form analysis of the pension reform and estimates a structural model of retirement timing.…

Policy discussions about teacher quality and teacher "shortages" often focus on recruitment and retention of young teachers. However, attention has begun to focus on the incentive effects of teacher retirement benefit systems, particularly given their rising costs and the large unfunded liabilities. In this paper we analyze accrual of…

The retirement behavior of Pennsylvania public school teachers in 1997-98 and 1998-99, a period when state early retirement incentives were temporarily increased, is modeled using a choice framework that emphasizes both pecuniary and nonpecuniary factors of the retirement decision under a defined benefit retirement plan. We find each to have large…