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Learning by doing: Active employer sponsored retirement savings plan participation and household wealth accumulation

机译:边干边学:积极的雇主赞助的退休储蓄计划参与和家庭财富积累

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This paper investigates the impact of household exposure to employer pension plan features using the Health and Retirement Survey. We investigate whether exposure to active management (choice) or participation in plan-sponsored financial education seminars impacts household portfolio allocations and wealth. We consider interactions between pension design and investment patterns outside of workers' pension plans, utilizing two parametric estimators: the random effects probit and the multivariate probit. We extend our results non-parametrically via propensity score matching. We find repeated evidence that both of the plan features improve asset allocations and financial outcomes for recent retirees, especially when used together.
机译:本文使用“健康与退休调查”调查了家庭暴露于雇主退休金计划功能的影响。我们调查接受主动管理(选择)或参加计划资助的金融教育研讨会是否会影响家庭资产配置和财富。我们利用两个参数估计量来考虑工人养老金计划之外的养老金设计与投资模式之间的相互作用:随机效应概率和多元概率。我们通过倾向得分匹配来非参数地扩展结果。我们反复发现,这两个计划的功能都可以改善最近退休人员的资产分配和财务结果,尤其是当一起使用时。

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