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Beshears, John; Choi, James J.; Laibson, David; … - 2018

This chapter provides an overview of household finance. The first part summarizes key facts regarding household … second part addresses interventions that firms, governments, and other parties deploy to shape household financial outcomes …

Persistent link: https://www.econbiz.de/10014023397

Automatic Enrollment with a 12% Default Contribution Rate

Beshears, John; Guo, Ruofei; Laibson, David I.; … - National Bureau of Economic Research - 2023

We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than previously studied defaults. Twenty-five percent of employees had not opted out of this default 12 months after hire; a literature review finds that the corresponding fraction in plans...

Persistent link: https://www.econbiz.de/10014337834

For Better or For Worse: Default Effects and 401(k) Savings Behavior

Laibson, David; Madrian, Brigitte C.; Metrick, Andrew; … - National Bureau of Economic Research (NBER) - 2001

offsetting on average. However, automatic enrollment does increase saving in the lower tail of the savings distribution by …

Persistent link: https://www.econbiz.de/10005085022

Simplification and Saving

Laibson, David; Madrian, Brigitte C.; Beshears, John; … - National Bureau of Economic Research (NBER) - 2006

The daunting complexity of important financial decisions can lead to procrastination. We evaluate a low-cost intervention that substantially simplifies the retirement savings plan participation decision. Individuals received an opportunity to enroll in a retirement savings plan at a pre-selected...

Persistent link: https://www.econbiz.de/10005774950