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Financial Knowledge and 401(k) Investment Performance
Clark, Robert L. - 2014
Using a unique new dataset linking administrative data on investment performance and financial knowledge, we examine … most financially knowledgeable employees, and those scoring higher on our Financial Knowledge Index have slightly more … volatile portfolios while they do no better diversifying their portfolios than their peers. Overall, financial knowledge does …
Persistent link: https://www.econbiz.de/10012458527
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Defined Contribution Pensions : Plan Rules, Participant Decisions, and the Path of Least Resistance
Choi, James J. - 2001
We assess the impact on savings behavior of several different 401(k) plan features, including automatic enrollment, automatic cash distributions, employer matching provisions, eligibility requirements, investment options, and financial education. We also present new survey evidence on individual...
Persistent link: https://www.econbiz.de/10012470060
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Individual Financial Decisions in Retirement Saving Plans and The Provision of Resources for Retirement
Poterba, James M. - 1996
Proposals for mandatory private saving accounts differ in the degree of investment discretion that they provide to individual savers, and in their provisions for annuitization of accumulated assets. With respect to investment choices, some argue that individuals must be prevented from investing...
Persistent link: https://www.econbiz.de/10012473072
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How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors
Hastings, Justine S. - 2011
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could...
Persistent link: https://www.econbiz.de/10012461918
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Risk Shifting versus Risk Management : Investment Policy in Corporate Pension Plans
Rauh, Joshua - 2007
The asset allocation of defined benefit pension plans is a setting where both risk shifting and risk management incentives are likely be present. Empirically, firms with poorly funded pension plans and weak credit ratings allocate a greater share of pension fund assets to safer securities such...
Persistent link: https://www.econbiz.de/10012465413
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Longevity-Insured Retirement Distributions from Pension Plans : Market and Regulatory Issues
Brown, Jeffrey R. - 2001
This paper explores the extent to which retirees can and do insure themselves against longevity risk in private pension plans. We first review the theoretical and empirical results on the value of annuities, and discuss reasons why households may choose not to further insure themselves against...
Persistent link: https://www.econbiz.de/10012470665
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Lump-Sum Distributions from Retirement Saving Plans : Receipt and Utilization
Poterba, James M. - 1995
One of the central issues in evaluating the ongoing shift from defined benefit (DB) to defined contribution (DC) pension plans is the degree to which assets in DC plans will be withdrawn before plan participants reach retirement age. The annual flow of withdrawals from such plans, which are...
Persistent link: https://www.econbiz.de/10012473572
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Pension COLAs
Gustman, Alan L. - 1991
This paper studies cost of living adjustments in pensions from the perspective of labor economics. Evidence from longitudinal data on pension and annuity incomes of retirees suggests that pension COLAs are less important in the 1980s than in the 1970s, but that through 1987 they continued to...
Persistent link: https://www.econbiz.de/10012475079
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The Stampede Toward Defined Contribution Pension Plans : Fact or Fiction?
Gustman, Alan L. - 1989
This paper questions recent conclusions that the trend towards defined contribution plans and away from defined benefit plans is due to increased pension regulation and/or a changing economic environment. Using data from IRS 5500 filings by pension administrators, we find that at least half of...
Persistent link: https://www.econbiz.de/10012475960
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Explaining Pension Dynamics
Luzadis, Rebecca A. - 1989
Some contend the US labor market will fail to adapt smoothly to an aging workforce, whereas others argue that employee pensions can and will play an important role in helping companies induce desired turnover patterns. This paper undertakes a longitudinal examination of pension retirement...
Persistent link: https://www.econbiz.de/10012475962