Compensation Strategies Group, Ltd.
Nova 401(k) Associates
Nicholas Pension Consultants
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|401(k) Participant Behavior in a Volatile Economy|
Mar. 10, 2015
"Using administrative tax records and household surveys, [the authors] examine how participants responded to these periods of economic expansions and contractions by documenting changes in 401(k) participation, contributions, and contribution rates from 1990 to 2009. Controlling for earnings, job changes, and other household factors, [the authors] find that workers reduce their 401(k) participation and contributions during recessions. Changes in participant behavior during the Great Recession, in particular, could lower 401(k) assets of the typical 30-year-old by as much as 8% at age 62."
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