We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
INFORMING RETIREMENT SAVINGS DECISIONS: A FIELD EXPERIMENT ON SUPPLEMENTAL PLANS.
- Authors
Clark, Robert L.; Hammond, Robert G.; Morrill, Melinda S.; Khalaf, Christelle
- Abstract
Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less education. We report findings from an intervention that provided information on key aspects of the employer‐provided supplemental saving plans to older public employees in North Carolina. Among workers participating in a supplemental plan, individuals who received an informational flyer increased their contributions in the months following the intervention relative to the control group. In contrast, individuals who were not enrolled in a retirement saving plan were not moved to begin contributing to a supplemental plan. The results suggest that informational interventions can induce workers who are already engaged in the saving process to reassess their level of retirement preparedness.
- Subjects
UNITED States; FINANCIAL security; CIVIL service retirement; RETIREMENT planning; SUPPLEMENTAL security income program; WAGES; INDIVIDUAL retirement accounts
- Publication
Economic Inquiry, 2019, Vol 57, Issue 1, p188
- ISSN
0095-2583
- Publication type
Article
- DOI
10.1111/ecin.12731