Employer Matching and 401(k) Saving: Evidence from the Health and Retirement Study

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Economists have suggested that higher Social Security benefits may “crowd out” other sources of retirement support for the elderly, most notably through lowering their own saving as workers. Estimates of this saving crowd–out have varied, but both time–series studies and cross–sectional studies suggest at least some offset of private savings with respect to Social Security and private pension wealth. This paper will investigate this issue.