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A version of the baseline DRM model incorporating an early-career preference for teaching in Chicago, in addition to the permanent taste for teaching in Chicago already included in the model, provided the best fit of teacher retention.

• We cannot pin down specific drivers of the observed decrease in early-career preference for teaching though this deserves further research.

The largest changes to the retention profiles occur when current salaries are reduced and when the full retirement age is increased.

• Simulations suggest a permanent 3-percent reduction in salary results in significantly lower retention for early-career teachers in years one to five.
• An increase in the full retirement age leads to lower retention of mid-career teachers, but the retention of teachers who continue teaching beyond the full retirement age is higher given that teachers with lower taste tend to have left by the new full retirement age.