Wharton Pension Research Council Working Papers

Document Type

Working Paper

Date of this Version



Financial literacy and a basic understanding of employer and national retirement programs are essential as older workers transition from full time work into retirement. The retirement process requires individuals to make a series of decisions that will influence their retirement income and economic well-being throughout the rest of their life. However, considerable evidence indicates that workers of the verge of retirement have a rather low level of financial literacy. Many employers have developed pre-retirement financial education and retirement planning programs for their retirement eligible workers. A recent symposium examined the use of employer programs, their effectiveness in enhancing worker knowledge, and the impact of improved financial literacy on retirement plans. This working paper presents a summary of the discussion and highlights the important findings of the symposium.

Working Paper Number


Copyright/Permission Statement

Opinions and errors are solely those of the authors and not of the institutions with which the authors are affiliated. Copyright 2009 © Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.


The analysis presented in this paper is based on the presentations of senior human resource leaders, state and federal governmental executives, and academic researchers at Pre-Retirement Planning in the Workforce Symposium held October 16, 2009 in Raleigh, NC. The authors thank each of these individuals for their thoughtful comments. Suzanne Wood prepared a summary of the discussion at the symposium on which this paper is based.

Included in

Economics Commons



Date Posted: 23 August 2019