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What Will My Account Really Be Worth? an Experiment on Exponential Growth Bias and Retirement Saving

Goda, Gopi Shah - 2012

Recent findings on limited financial literacy and exponential growth bias suggest saving decisions may not be optimal because such decisions require an accurate understanding of how current contributions can translate into income in retirement. This study uses a large-scale field experiment to...

Persistent link: https://www.econbiz.de/10013108601

The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings

Goda, Gopi Shah - 2015

There is considerable variation in retirement savings within income, age, and educational categories. Using a broad … retirement savings, even while controlling for measures of IQ and general financial literacy as well as a rich set of demographic … savings. We assess potential threats to a causal interpretation of our results with a hypothetical choice experiment and …

Persistent link: https://www.econbiz.de/10013017085

Social Security and the Timing of Divorce

Goda, Gopi Shah - 2010

Social Security provides spousal benefits in retirement to secondary workers in married couples based on the primary worker's earnings record. In addition, Social Security pays spousal benefits to divorced secondary workers whose marriages lasted at least ten years. However, if a marriage failed...

Persistent link: https://www.econbiz.de/10012759856

Removing the Disincentives in Social Security for Long Careers

Goda, Gopi Shah - 2010

Implicit taxes in Social Security, which measure Social Security contributions net of benefits accrued as a percentage of earnings, tend to increase over the life cycle. In this paper, we examine the effects of three potential policy changes on implicit Social Security tax rates: extending the...

Persistent link: https://www.econbiz.de/10012760092

Retirement Plan Type and Employee Mobility : the Role of Selection and Incentive Effects

Goda, Gopi Shah - 2013

Employer-provided pension plans may affect employee mobility both through an "incentive effect," where the bundle of benefit characteristics such as vesting rules, pension wealth accrual, risk, and liquidity affect turnover directly, and a "selection effect," where employees with different...

Persistent link: https://www.econbiz.de/10013084739

Incorporating Employee Heterogeneity into Default Rules for Retirement Plan Selection

Goda, Gopi Shah - 2010

We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm which transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their...

Persistent link: https://www.econbiz.de/10013141889

Income and the Utilization of Long-Term Care Services : Evidence from the Social Security Benefit Notch

Goda, Gopi Shah - 2010

This paper estimates the impact of income on the long-term care utilization of elderly Americans using a natural experiment that led otherwise similar retirees to receive significantly different Social Security payments based on their year of birth. Using data from the 1993 and 1995 waves of the...

Persistent link: https://www.econbiz.de/10013142285