Article2004

Pension Plan Choice in the Public Sector: The Case of Michigan State Employees

23 citations0/0 files storedNational Tax Journal

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Literacy, Pension, Retirement Analysis Social Policy and Reform Studies Retirement, Disability, and Employment

Abstract

In 1997, the State of Michigan closed its DB pension plan to new state employees. New employees are automatically enrolled in a 401(k) plan with a mandatory state contribution. Existing employees chose between staying in the DB plan, or transferring the present value of their vested pension benefits to a DC plan. This paper surveys the event and analyzes the choice made by corrections workers, about 25 percent of Michigan public employment. An analysis of the switch to individual accounts may inform Federal estimates of take-up rates in a possible privatization of Social Security.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 23 citations exist upstream.

References

1988Employee Benefit Research Institute 1990Pension Portability and Labor Mobility: Evidence From the Survey of Income and Program Participation 1993Pension portability and labor mobility 1999Faculty Choice of a Pension Plan: Defined Benefit versus Defined Contribution 1996Are 401(k) Plans Replacing Other Employer-Provided Pensions? Evidence from Panel Data 1999Are 401(k) Plans Replacing Other Employer-Provided Pensions? Evidence from Panel Data 1999Developments in State and Local Pension Plans.

Cited by

2013Incorporating Employee Heterogeneity into Default Rules for Retirement Plan Selection 2010The Effect of Pension Plan Type on Retirement Age: Distinguishing Plan Incentives from Career Length Preferences

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.