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Analyzing Defaulted Participant Behavior and QDIA Target Date Design (PDF)
J.P. Morgan Link to more items from this source
Mar. 20, 2014
12 pages. Excerpt: "Contribution rates for defaulted participants start too low and remain well below industry expectations across their entire careers. A sizable number of defaulted participants take loans ... A number of defaulted participants take pre-retirement distributions, and most withdraw their entire account balances shortly after they stop working.... Projected balances at age 65 were significantly lower for defaulted participants. Fortunately, these participants also generally have a lower retirement savings 'finish line' to cross. Investing at controlled levels of risk -- through broader diversification and relatively rapid reduction in equity exposure in the years leading up to retirement -- increases the number of defaulted participants likely to reach their retirement income goals."

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