Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on … retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before …

How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …