In most U.S. states retirement benefits constitute an important component of compensation for public school teachers, and the structure of teacher retirement systems has been the subject of a prominent public policy debate. The prevalence of underfunded state pension systems has resulted in discussion about the prudence of moving from traditional defined benefit (DB) systems towards defined contribution (DC) systems, which are by definition fully funded. Few states have incorporated DC features into teacher pension systems and little is known about how providing teachers with greater control over deferred compensation might affect their savings behavior. This paper reports on the retirement savings behavior of Washington State teachers enrolled in the state's hybrid pension plan, which includes a DC component funded by employee contributions. This research, which is the first quantitative analysis of teachers' choices of defined contribution rates, speaks to the debate around the structuring of teacher pension systems. The following questions are addressed: (1) How are discretionary retirement savings rates influenced by individual characteristics and the ability to adjust contribution rates?; (2) What can be inferred about teacher preferences for current compensation versus the present value of investment in retirement compensation?; and (3) How does the level of retirement savings compare under traditional defined benefit and hybrid pension systems? To answer these questions, the authors use longitudinal pension plan data from Washington State, where public school teachers who enroll in the state's hybrid pension plan can choose from a menu of contribution rates.