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Retirement Savings: A Tale of Decisions and Defaults
Loretti Dobrescu, Xiaodong Fan, Hazel Bateman, Ben Newell, Andreas Ortmann, Susan Thorp, via SSRN Link to more items from this source
Aug. 25, 2014
"This paper examines the default behaviour of the members of an industry-wide pension fund to assess both the prevalence of defaults and their impact on retirement accumulation. Preliminary empirical investigations indicate that preferences, demographic characteristics, and labor mobility can go a long way towards explaining the low active plan choice (or high defaulting) and overall level of savings.... [T]he default structure, which specifies individual's outcomes when no choices are made, strongly influences wealth accumulation. We also find that defaults tend to be quite sticky, both over time and across decisions."

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