%0 Report
        %A Montizaan, Raymond
%A Cörvers, Frank
%A Grip, Andries de
        %T Training Background and Early Retirement
        %D 2008
        %8 2008 May
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 3504
        %U https://www.iza.org/publications/dp3504
        %X Several studies show that employees with firm-specific skills are more likely to be covered by employer-sponsored pension schemes than workers with general skills. Therefore it can be expected that workers with firm-specific skills retire earlier. This paper tests this prediction using US data from the National Longitudinal Survey of Older Men. We find that workers who participated in firm-specific training in their early careers retire earlier than workers with a general training background. This indicates that shared investments in firm-specific training are embedded in implicit contracts that induce early retirement. The results remain robust when controlling for technological change and work commitment.
        %K retirement
%K deferred compensation
%K training