This paper provides new insights into the effect of the widespread transition from defined benefit (DB) to defined contribution (DC) pension plans on employee mobility. Pension plans may affect employee mobility both through an “incentive effect,” where the bundle of benefit characteristics,...

Recent findings on limited financial literacy and exponential growth bias suggest saving decisions may not be optimal because such decisions require an accurate understanding of how current contributions can translate into income in retirement. This study uses a large-scale field experiment to...

Many investment companies have begun providing their defined-contribution pension participants with individualized, retirement income projections. The U.S. Congress is currently considering whether to require them all to do so. Evidence on the potential impact is scant, though a large body of...

This study uses the Retirement Confidence Survey of College and University Faculty, 2005, to examine the impact of pension plan incentives on retirement age and to understand how the widespread transition from defined benefit (DB) to defined contribution (DC) plans has affected workers....