Findings include: "Public employers would attract a different labor force if they switched retirement benefits away from pensions.... Employee turnover would increase under individual DC accounts and cash balance plans.... Moving from a pension structure would result in higher cost for public employers and employees because of higher investment and administrative costs for alternative retirement plans. Public employers and employees overwhelmingly choose to stay with pensions rather than moving to alternative benefits when faced with a choice, illustrating the high value of pensions to public sector employers and employees."  MORE >>