The release of the Federal Reserve's 2004 Survey of Consumer Finances (SCF) is a wonderful opportunity to re-assess the role that 401(k) plans are playing in the provision of retirement income. The SCF is a triennial survey of a nationally representative sample of U.S. households, which collects...

This paper uses the 1998 Survey of Consumer Finances to identify the factors that determine whether an eligible employee elects to participate in a 401(k) plan and the magnitude of the employee's contribution. The conclusion is that the most important factor affecting employees' participation...

This paper uses the 1998 Survey of Consumer Finances to identify the factors that determine whether an eligible employee elects to participate in a 401(k) plan and the magnitude of the employee's contribution. The conclusion is that the most important factor affecting employees' participation...

In 1998, Sweden passed a pension reform that introduced a second tier of mandatory individual accounts, the Premium Pension, in the public system. Of the total contribution rate of 18.5 percent, 2.5 percentage points go to the accounts. The first investment selections in the Premium Pension plan...

This paper examines portfolio choice, trading behavior, and realized rates of return of more than seven thousand 401(k) retirement accounts during the April 1994-August 1998 time period. The evidence on equity allocations is indicative of prudent behavior: on average our investors hold 40% of...

This paper summarizes the results of a focus group on saving and financial planning. The group consisted of eight individuals with relatively high income and wealth. The savings behavior of such people is of interest partly due to their large contribution to total personal saving. The...

This paper summarizes the results of a focus group on saving and financial planning. The group consisted of eight individuals with relatively high income and wealth. The savings behavior of such people is of interest partly due to their large contribution to total personal saving. The...