| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17911 |
| 来源ID | Working Paper 17911 |
| Target-Date Funds in 401(k) Retirement Plans | |
| Olivia S. Mitchell; Stephen Utkus | |
| 发表日期 | 2012-03-09 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Individual responsibility for portfolio construction is a central theme for defined contribution pensions, yet the rise of target-date funds is shifting investment decisions from workers back to employers. A complex choice architecture including automatic enrollment, reenrollment, and fund mapping, is increasing the number of participants defaulting into employer-selected target-date funds. At the same time, portfolios of non-defaulted participants undergo sizeable changes, with equity share ratios widening by over 40 percent points between younger/older participants. Among active decision-makers, these funds act as a form of implicit employer-provided lifecycle investment advice. More broadly, our findings highlight malleable preferences among retirement investors and a demand for default-based guidance or simplified advice for households facing complex choices. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Labor Economics ; Demography and Aging ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w17911 |
| 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/575587 |
| 推荐引用方式 GB/T 7714 | Olivia S. Mitchell,Stephen Utkus. Target-Date Funds in 401(k) Retirement Plans. 2012. |
| 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 | ||
| w17911.pdf（331KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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