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The Effects of Retiree Health Insurance Plan Characteristics on Retirees' Choice and Employers' Costs

Clark, Robert; Morrill, Melinda; Vanderweide, David - National Bureau of Economic Research (NBER) - 2013

To moderate the rate of growth of retiree health insurance costs, employers can modify plans and move retirees into … effects on annual costs and unfunded accrued liabilities were relatively modest, but growth rates were diminished. Increases … in the retiree premiums reduced projected costs. …

Persistent link: https://www.econbiz.de/10011193598

The In-State Equity Bias of State Pension Plans

Brown, Jeffrey Robert; Pollet, Joshua M.; Weisbenner, … - National Bureau of Economic Research (NBER) - 2015

This paper provides evidence on the investment behavior of 27 state pension plans that manage their own equity portfolios. Even though these state plans typically hold broadly diversified portfolios, they substantially over-weight the equity of companies that are headquartered in-state. The...

Persistent link: https://www.econbiz.de/10011201892

Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective

Madrian, Brigitte C. - National Bureau of Economic Research (NBER) - 2012

Including a matching contribution increases savings plan participation and contributions, although the impact is less significant than the impact of nonfinancial approaches. Conditional on participation, a higher match rate has only a small effect on savings plan contributions. In contrast, the...

Persistent link: https://www.econbiz.de/10010951346

Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design

Mitchell, Olivia; Utkus, Stephen P.; Tongxuan (Stella) Yang - National Bureau of Economic Research (NBER) - 2005

We develop a comprehensive model of 401(k) pension design that reflects the complex tax, savings, liquidity and investment incentives of such plans. Using a new dataset on some 500 plans covering nearly 740,000 workers, we show that employer matching contributions have only a modest impact on...

Persistent link: https://www.econbiz.de/10005014934

The Changing Landscape of Pensions in the United States

Poterba, James; Wise, David; Venti, Steven - National Bureau of Economic Research (NBER) - 2007

The pension landscape in the U.S. has changed dramatically over the past 25 years. Saving through personal retirement accounts has become the principal form of retirement saving. We document the transition from a defined benefit system to a personal account system and show the effect it has had...

Persistent link: https://www.econbiz.de/10005718432

Rise of 401(k) Plans, Lifetime Earnings, and Wealth at Retirement

Poterba, James; Wise, David; Venti, Steven F. - National Bureau of Economic Research (NBER) - 2007

Saving through private pensions has been an important complement to Social Security in providing for the financial needs of older Americans. In the past twenty five years, however, there has been a dramatic change in private retirement saving. Personal retirement accounts have replaced defined...

Persistent link: https://www.econbiz.de/10005828862

Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities

Mitchell, Olivia; Dus, Ivica; Maurer, Raimond - National Bureau of Economic Research (NBER) - 2005

Retirees must draw down their accumulated assets in an orderly fashion, so as not to exhaust their funds too soon. We compare alternative phased withdrawal strategies to a life annuity benchmark using German data; one particular phased withdrawal rule seems attractive, as it offers relatively low...

Persistent link: https://www.econbiz.de/10005774586

Asset Allocation and Location over the Life Cycle with Survival-Contingent Payouts

Mitchell, Olivia; Horneff, Wolfram J.; Maurer, Raimond H.; … - National Bureau of Economic Research (NBER) - 2008

This paper shows how lifelong survival-contingent payouts can enhance investor wellbeing in the context of a portfolio choice model which integrates uninsurable labor income and asymmetric mortality expectations. Our model generates optimal asset location patterns indicating how much to hold in...

Persistent link: https://www.econbiz.de/10005778550

New Estimates of the Future Path of 401(k) Assets

Poterba, James; Wise, David; Venti, Steven - National Bureau of Economic Research (NBER) - 2007

Over the past two and a half decades there has been a fundamental change in saving for retirement in the United States, with a rapid shift from employer-managed defined benefit pensions to defined contribution saving plans that are largely controlled by employees. To understand how this change...

Persistent link: https://www.econbiz.de/10005089021

The Decline of Defined Benefit Retirement Plans and Asset Flows

Poterba, James; Wise, David; Venti, Steven - National Bureau of Economic Research (NBER) - 2007

Demographic change can have an important effect on the stock of assets held in defined benefit pension plans. This paper projects the impact of changes in the age structure of the U.S. population between 2005 and 2040 on the stock of assets held by these plans. It projects the contributions to...

Persistent link: https://www.econbiz.de/10005089278

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