Assessing the Personal Discount Rate

This paper reviews research on the estimation of the personal discount rate (a key factor in evaluating the effects of changes in retirement programs) and presents results from recent Army Research Institute research on this issue. According to this research, the discount rates being used in economi...

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Hauptverfasser:	Nord, Roy D, Schmitz, Edward J
Format:	Report
Sprache:	eng
Schlagworte:	ARMY PERSONNEL ARMY RESEARCH BENEFITS ECONOMIC MODELS Economics and Cost Analysis ESTIMATES INCOME LOGISTICS MATHEMATICAL MODELS METHODOLOGY PE62722A PERSONAL DISCOUNT RATE Personnel Management and Labor Relations PERSONNEL RETENTION POLICIES REENLISTMENT RETIREMENT RETIREMENT(PERSONNEL) STATISTICS
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Beschreibung
Zusammenfassung:	This paper reviews research on the estimation of the personal discount rate (a key factor in evaluating the effects of changes in retirement programs) and presents results from recent Army Research Institute research on this issue. According to this research, the discount rates being used in economic models are likely to be incorrect. There is evidence that the discount rate applied to retirement benefits may be much lower than assumed. Retirement policies favoring present pay over future benefits may qualitatively change the composition of people remaining in the force. Keywords: Reenlistment; Logistics models; Statistical Methodology.