Narrow search
Showing 1 - 8 of 8
Cover Image
Default, Framing and Spillover Effects : the Case of Lifecycle Funds in 401(K) Plans
Mitchell, Olivia S. - 2009
Important behavioral factors such as default and framing effects are increasingly being employed to optimize decision-making in a variety of settings, including individually-directed retirement plans. Yet such approaches may have unintended "spillover" effects, as we show with regard to the...
Persistent link: https://www.econbiz.de/10013158535
Cover Image
Demographic Change, Social Security Systems, and Savings
Bloom, David E. - 2010
little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …
Persistent link: https://www.econbiz.de/10012760611
Cover Image
The Efficiency of Sponsor and Participant Portfolio Choices in 401(K) Plans
Tang, Ning - 2009
Portfolio performance in 401(k) plans depends on both the investment menu made available by plan sponsors and participants portfolio decisions. We use a unique dataset of nearly 1 million participants in one thousand pension plans to identify key portfolio inefficiencies in 401(k)...
Persistent link: https://www.econbiz.de/10013156540
Cover Image
A Theory of Retirement
Bloom, David E. - 2007
We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health. We show that improvements in life expectancy, coupled with a delay in the onset of disability, increases both the optimal consumption level and the proportion of life spent in leisure....
Persistent link: https://www.econbiz.de/10012775556
Cover Image
The Effect of Subjective Survival Probabilities on Retirement and Wealth in the United States
Bloom, David E. - 2010
We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data drawn from the Health and Retirement Study for the United States. We use data on a person's subjective probability of survival to age 75 as a proxy for their prospective...
Persistent link: https://www.econbiz.de/10012760540
Cover Image
Borrowing from the Future : 401(K) Plan Loans and Loan Defaults
Lu, Timothy (Jun) - 2015
Tax-qualified retirement plans seek to promote saving for retirement, yet most employers permit pre- retirement access by letting 401(k) participants borrow plan assets. This paper examines who borrows and why, and who defaults on their loans. Our administrative dataset tracks several hundred...
Persistent link: https://www.econbiz.de/10013024156
Cover Image
Target Date Funds and Portfolio Choice in 401(K) Plans
Mitchell, Olivia S.; Utkus, Stephen P. - 2021
Target date funds in corporate retirement plans grew from $5B in 2000 to $734B in 2018, partly because federal regulation sanctioned these as default investments in automatic enrollment plans. We show that adopters delegated pension investment decisions to fund managers selected by plan...
Persistent link: https://www.econbiz.de/10013313221
Cover Image
Target-Date Funds in 401(K) Retirement Plans
Mitchell, Olivia S.; Utkus, Stephen P. - 2021
Individual responsibility for portfolio construction is a central theme for defined contribution pensions, yet the rise …
Persistent link: https://www.econbiz.de/10013311923