The importance of default options for retirement saving outcomes: evidence from the United States

John Beshears (), James Choi, David Laibson and Brigitte Madrian
Additional contact information
John Beshears: Department of Economics, Harvard University

No 43, CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy)

Abstract: This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. After outlining the salient features of the various sources of retirement income in the U.S., the paper presents the empirical evidence on how defaults impact retirement savings outcomes at all stages of the savings lifecycle, including savings plan participation, savings rates, asset allocation, and post-retirement savings distributions. The paper then discusses why defaults have such a tremendous impact on savings outcomes. The paper concludes with a discussion of the role of public policy towards retirement saving when defaults matter.

Keywords: Retirement; saving (search for similar items in EconPapers)
Pages: 41 pages
Date: 2005-11
New Economics Papers: this item is included in nep-fmk
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Citations: View citations in EconPapers (6)

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http://www.cerp.carloalberto.org/wp-content/uploads/2008/12/wp_43.pdf?f6fa34 First version, 2005

Related works:
Chapter: The Importance of Default Options for Retirement Saving Outcomes: Evidence from the United States (2009)
Working Paper: The Importance of Default Options for Retirement Savings Outcomes: Evidence from the United States (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:crp:wpaper:43

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