Tag: retirement plan
The brief’s key findings are: To help workers better plan for retirement, the Social Security Administration provides a Statement with personalized benefit estimates. Surveys have explored how workers view the Statement, and research studies have examined its effectiveness. The results indicate that workers generally consider the Statement a valuable resource, and it improves their benefit…
Abstract This paper examines the effect of incorporating individual-level heterogeneity into default rules for retirement plan selection. We use data from a large employer that transitioned from a defined benefit (DB) plan to a defined contribution (DC) plan, offering existing employees a choice of plans. Employees who did not make a choice were defaulted to…
