Tag: saving behavior
Abstract State wage-payment laws, which forbid deductions from wages and salaries without the written permission of the employee, constituted a binding constraint on firms’ choices to adopt automatic enrollment in 401(k) plans prior to 2006. Since the passage of the Pension Protection Act of 2006, which clarified the legality of auto-enroll plans and superseded thes…
The brief’s key findings are: A recent experiment tested how retirement saving is affected by two emotions: hope (the degree of yearning for a secure retirement); and hopefulness (the perceived likelihood of a secure retirement). The experiment “threatened” these emotions by telling some participants that the chances of a secure retirement were worse than expected…
