TY  - JOUR
AU  - Allen,Steven G.
AU  - Clark,Robert L.
AU  - McDermed,Ann A.
TI  - The Pension Cost of Changing Jobs
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2935
PY  - 1989
Y2  - April 1989
UR  - http://www.nber.org/papers/w2935
L1  - http://www.nber.org/papers/w2935.pdf
N1  - Author contact info:
Steven G. Allen
Jenkins Graduate School of Management
NC State University
2124 Nelson Hall
P.O.Box 7229
Raleigh, NC  27695-7229
Tel: 919/515-6941
Fax: 919/515-5073
E-Mail: steve_allen@ncsu.edu
AB  - Workers covered by defined benefit pension plans receive lower benefits at retirement if they leave their current job before reaching retirement age. This study estimates the magnitude of this pension loss for workers in the May 1983 supplement of the Current Population Survey, using pension formula estimates from the 1983 Employee Benefit Survey. The pension loss is generally greatest between the ages of 35 and 54 and represents roughly half of a year's earnings for that age group. The loss tends to be quite high in the declining mining and manufacturing sectors. This probably resulted in lower voluntary attrition at a time of massive layoffs and plant closings.
ER  -