Tag: retirement plan
![Senior man calculating finances](https://crr.bc.edu/wp-content/uploads/2022/11/financing_retirement_1-1536x1024.jpg.webp)
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…
![Aged,Man,Working,In,An,Industrial,Factory](https://crr.bc.edu/wp-content/uploads/2022/11/older_workers_11-1536x1024.jpg.webp)
In summer 2009, the CRR surveyed individuals ages 45-59 on how the market crash has affected their retirement planning. Key findings from our analysis are: In response to the crisis, over 40 percent expected to work longer/save more. Those who were highly distressed were more likely to act. After receiving “reliable” financial advice, the majority…