Tag: pensions
The brief’s key findings are: Among workers whose employers offer a pension plan, participation rates are much lower for low earners and have declined over time. The decline is largely due to the rise of 401(k)s. Low earners often cite monetary constraints, though non-monetary reasons are also important. On the non-monetary side auto-enrollment should help,…
Abstract This article, based on two books (Barr and Diamond 2008, forthcoming), sets out a series of principles for pension design rooted in economic theory: pension systems have multiple objectives, analysis should consider the pension system as a whole, analysis should be framed in a second-best context, different systems share risks differently, and systems hav…
