Many college and university 403(b) plans restrict investment choices to the funds offered by TIAA-CREF, the current manager of over half of all 403(b) contributions. In the face of 2006 Internal Revenue Code changes some sponsors are dropping alternatives to TIAA-CREF. Using historical data, we...

This paper explores the influences of the approved results of loans cases, the loan applicants’ socioeconomic attributes in the decision of perusal loan. The results can improve the credit quality and avoid the misjudgment of screening personal loan customers and also establish a better...

Pension funds are an important part of private savings flows, the main supplier of capital to industry and play a large and growing role in providing retirement incomes in countries with mature funded pension systems. Reforms which increase the emphasis on privately managed, funded pensions must...

In 2009, Canada's federal government introduced a new saving instrument for individuals – the Tax-Free Savings Account (TFSA). This paper reviews the TFSA focusing on how it may benefit individuals at different income levels. To that end, the paper presents advantages and disadvantages of the...

In Canada, the increasing need for private pension savings, a high level of awareness of the Registered Retirement Savings Plan (RRSP) program and yet relatively low and declining use of RRSPs may suggest that the core element of the RRSP program – the tax incentives – are no longer shaping...

We employ German Sample Survey Income data to examine income inequality and the financial situation of elderly citizens for the period from 1978 to 2003, focussing on differences between retired and non-retired elderly and between elderly with residence in the Old and the New German Laender....

We employ German Sample Survey Income data to examine income inequality and the financial situation of elderly citizens for the period from 1978 to 2003, focussing on differences between retired and non-retired elderly and between elderly with residence in the Old and the New German Laender....

This paper presents new evidence on the effects of retirement benefits on labor force participation decisions. The analysis is based on a mandated rule for employer-provided retirement benefits in Austria that creates discontinuities in the incentives for workers to delay retirement. We present...

This paper shows that labor demand plays an important role in the labor market reactions of older women affected by pension deductions for early retirement. Based on a large representative sample of the German workforce (SIAB), we calculate the consequences of individual financial incentive...

We evaluate the labor market and distributional effects of an increase in the early retirement age (ERA) from 60 to 63 for women. We use a regression discontinuity design which exploits the immediate increase in the ERA between women born in 1951 and 1952. The analysis is based on the German...