Tag: retirement planning
Abstract This paper investigates two methods for improving participants’ asset allocations in their 401(k) plans: personalized online advice and managed account services. This paper uses a unique new dataset of individual-level administrative data from one 401(k) plan and recommendation data from an advice provider. Preliminary results suggest that online advice and the managed account servic…
Introduction The release of the Federal Reserve’s 2004 Survey of Consumer Finances (SCF) is a wonderful opportunity to re-assess the role that 401(k) plans are playing in the provision of retirement income. The SCF is a triennial survey of a nationally representative sample of U.S. households, which collects detailed information on households’ assets, liabilities, and…
