Joan Fico studies double dipping and the retired in New York public school districts

by Joan Fico

“Hiring the Retired: An Examination of Double Dipping in Public School Districts,” co-authored by Joan Fico, will be published in the September 2018 Review of Business. The study offers a novel analysis of pension data, earnings in retirement, and hand-collected government data to identify the prevalence of “double dipping" in the New York State education system, exploring the association with governance characteristics. Results suggest that decisions to re-hire retirees may be affected by the presence of an accounting governance tool, such as a budget committee; school-board size; and superintendent tenure. This research contributes to the literature by offering the first comprehensive study of the economic impact of double dipping. School-district administrators and state regulators may find it helpful for evaluating decisions to hire recent retirees and for evaluating policy implications to preserve the integrity of their pension plans.