全球智库信息集成服务系统(G2TT): Employer Matching and 401(k) Saving: Evidence from the Health and Retirement Study

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w12447
来源ID	Working Paper 12447
	Employer Matching and 401(k) Saving: Evidence from the Health and Retirement Study
	Gary V. Engelhardt; Anil Kumar
发表日期	2006-08-17
出版年	2006
语种	英语
摘要	Employer matching of employee 401(k) contributions can provide a powerful incentive to save for retirement and is a key component in pension-plan design in the United States. Using detailed administrative contribution, earnings, and pension-plan data from the Health and Retirement Study, this analysis formulates a life-cycle-consistent econometric specification of 401(k) saving and estimates the determinants of saving accounting for non-linearities in the household budget set induced by matching. The participation estimates indicate that an increase in the match rate by 25 cents per dollar of employee contribution raises 401(k) participation by 3.75 to 6 percentage points, and the estimated elasticity of participation with respect to matching ranges from 0.02-0.07. The parametric and semi-parametric estimates for saving indicate that an increase in the match rate by 25 cents per dollar of employee contribution raises 401(k) saving by $400-$700 (in 1991 dollars). The estimated elasticity of 401(k) saving to matching is also small and ranges from 0.09-0.12 overall, with just under half of this effect on the intensive margin. Overall, the analysis reveals that matching is a rather poor policy instrument with which to raise retirement saving.
主题	Macroeconomics ; Consumption and Investment ; Public Economics ; Taxation ; Labor Economics ; Labor Compensation
URL	https://www.nber.org/papers/w12447
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/570105
推荐引用方式 GB/T 7714	Gary V. Engelhardt,Anil Kumar. Employer Matching and 401(k) Saving: Evidence from the Health and Retirement Study. 2006.

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
w12447.pdf（471KB）	智库出版物		限制开放	CC BY-NC-SA	浏览