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Abstract This study draws lessons for the debate about the proposed partial privatization of Social Security in the United States based on evidence from the United Kingdom. The British case suggests that privatization may lead to a reduction in the pension burden on the national budget if combined with substantial cuts in benefits. Such reforms…
Abstract This paper uses the 1995 and 1998 Survey of Consumer Finances to examine 401(k) asset allocation behavior by individual and household characteristics, including spousal asset allocation behavior. The results provide evidence that, among married households in which each spouse has a 401(k) plan, spouses tend to invest their 401(k)s similarly rather than diversifying their…
