| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11726 |
| 来源ID | Working Paper 11726 |
| Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design | |
| Olivia S. Mitchell; Stephen P. Utkus; Tongxuan (Stella) Yang | |
| 发表日期 | 2005-10-31 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We develop a comprehensive model of 401(k) pension design that reflects the complex tax, savings, liquidity and investment incentives of such plans. Using a new dataset on some 500 plans covering nearly 740,000 workers, we show that employer matching contributions have only a modest impact on eliciting additional retirement saving. In the typical 401(k) plan, only 10 percent of non-highly-compensated workers are induced to save more by match incentives; and 30 percent fail to join their plan at all, despite the fact that the company-proffered match would grant them a real return premium of 1-5% above market rates if they contributed. Such indifference to retirement saving incentives cannot be attributed to liquidity or investment constraints. These results underscore the need for alternative approaches beyond matching contributions, if retirement saving is to become broader-based. |
| 主题 | Labor Economics ; Labor Supply and Demand ; Labor Compensation ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w11726 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569376 |
| 推荐引用方式 GB/T 7714 | Olivia S. Mitchell,Stephen P. Utkus,Tongxuan . Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11726.pdf（225KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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