In this paper we document the importance of framing effects in the retirement savings decisions of college professors …. Pensions in many post-secondary institutions are funded by a combination of an employer contribution and a mandatory employee … contribution. Employees can also make tax-deferred contributions to a supplemental savings account. A standard lifecycle savings …

and an incentive to save more themselves. For this reason, unfunded private pensions differ fundamentally from the … unfunded Social Security pension and the other unfunded federal government civilian and military pensions …

limits bind those older middle-income households who started their pension savings programs late in life, those who plan to …