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What is the likely motivational impact of pension plans on teachers' attraction and retention?

One can think of pensions as a form of an incentive system that has potential to influence teachers' job search, choice, and retention decisions. Those decisions are shaped by several factors, which include:

1. The teacher's knowledge of pension plans and their features
2. The desirability of pension plan coverage and payout to the teacher
3. The desirability of the multiple other job attributes or outcomes that the teacher may experience
4. The teacher's perception of the likelihood that the pension and related outcomes will occur if eligibility requirements are met
5. The tradeoffs the teacher is willing to make between pensions and the other outcomes
6. Individual differences among teachers in all of the above factors

For more information, see http://www.wcer.wisc.edu/cpre/papers/pdf/Pensions%20Draft.pdf.