private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have … shifted towards defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate … retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC …

on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A randomized subset … savings of non-participants who were ineligible for 401(k) automatic enrollment, and higher observed peer savings rates also … decreased savings. Discouragement from upward social comparisons seems to drive this reaction …

This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. After outlining the … defaults impact retirement savings outcomes at all stages of the savings lifecycle, including savings plan participation …, savings rates, asset allocation, and post-retirement savings distributions. The paper then discusses why defaults have such a …

Defined contribution (DC) pensions are an increasingly important means of financing retirement consumption. Because …

We assess the impact on savings behavior of several different 401(k) plan features, including automatic enrollment … education. We also present new survey evidence on individual savings adequacy. Many of our conclusions are based on an analysis … of micro-level administrative data on the 401(k) savings behavior of employees in several large corporations that …

In randomized field experiments, we embedded one- to two-sentence anchoring, goal-setting, or savings threshold cues in … emails to employees about their 401(k) savings plan. We find that anchors increase or decrease 401(k) contribution rates by … up to 1.9% of income. A high savings goal example raises contribution rates by up to 2.2% of income. Highlighting a …

What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable … their employer-based defined contribution (DC) retirement savings systems. We find that all of them, with the sole exception …