Tag: retirement savings
Abstract This paper examines the relationship between student loans and retirement saving by 30-year-old workers. Total outstanding student loan debt in the United States has quintupled since 2004. Rising student debt levels mean that young workers must reduce either their consumption or their saving. To what extent do these workers cut back on retirement saving? …
The brief’s key findings are: Today’s workers must save on their own for a secure retirement, so researchers have examined existing options for encouraging them. Tax incentives: recent research suggests that increasing the generosity of tax incentives for 401(k)s and IRAs would not significantly increase saving. 401(k) design: auto-enrollment has boosted participation, but, to date,…
