Working Papers from 2019
Retirement Preparedness and Financial Literacy in Singapore: How Do the Self-Employed Compare?, Benedict S.K. Koh and Olivia S. Mitchell
Trust and Retirement Preparedness: Evidence from Singapore, Benedict S.K. Koh, Olivia S. Mitchell, and Joelle H. Fong
Paying It Back: Real-world Debt Service Trends and Implications for Retirement Planning, Anne Lester, Katherine Santiago, Je Oh, Livia Wu, and Ekaterina Chegaeva
Financial Distress among the Elderly: Bankruptcy Reform and the Financial Crisis, Wenli Li and Michelle J. White
Mortgage Foreclosures and Older Americans: A Decade after the Great Recession, Lori A. Trawinski
Working Papers from 2018
Learning and Confirmation Bias: Measuring the Impact of First Impressions and Ambiguous Signals, Julie Agnew, Hazel Bateman, Christine Eckert, Fedor Iskhakov, Jordan Louviere University of South Australia, and Susan Thorp
How FinTech is Reshaping the Retirement Planning Process, Julie Agnew and Olivia S. Mitchell
Behavioral Finance, Decumulation, and the Regulatory Strategy for Robo-Advice, Tom Baker and Benedict Dellaert
FinTech Disruption: Opportunities to Encourage Financial Responsibility, Julianne Callaway
Exploring the Risks and Consequences of Elder Fraud Victimization: Evidence from the Health and Retirement Study, Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, and Olivia S. Mitchell
Financial Fraud among Older Americans: Evidence and Implications, Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, and Olivia S. Mitchell
Matching FinTech Advice to Participant Needs: Lessons and Challenges, Stephen L. Deschenes and P Brett Hammond
The Chinese Pension System, Hanming Fang and Jin Feng
The Emergence of the Robo-advisor, Jill E. Fisch, Marion Labouré, and John A. Turner
Personality traits, intra-household allocation and the gender wage gap, Christopher J. Flinn, Petra E. Todd, and Weilong Zhong
How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors, Justine S. Hastings and Olivia S. Mitchell
How Will Persistent Low Expected Returns Shape Household Economic Behavior?, Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
Cognitive Ability, Financial Literacy, and the Demand for Financial Advice at Older Ages: Findings from the Health and Retirement Study, Hugh H. Kim, Raimond Maurer, and Olivia S. Mitchell
Transformation of Investment Advice: Digital Investment Advisors as Fiduciaries, Jennifer L. Klass and Eric L. Perelman
Ethics, Insurance Pricing, Genetics, and Big Data, Robert Klitzman
Financial Knowledge and Portfolio Complexity in Singapore, Benedict S. K Koh, Olivia S. Mitchell, and Susann Rohwedder
Assessing the Impact of Financial Education Programs: A Quantitative Model, Annamaria Lusardi, Pierre-Carl Michaud, and Olivia S. Mitchell
Understanding Debt at Older Ages and Its Implications for Retirement Well-being, Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
Designing for Older Adults: Overcoming Barriers to a Supportive, Safe, and Healthy Retirement, Cosmin Munteanu, Benett Axtell, Hiba Rafih, Amna Liaqat, and Yomna Aly
The FinTech Opportunity, Thomas Philippon
The Big Spenddown: Digital Investment Advice and Decumulation, Steven Polansky, Peter Chandler, and Gary R. Mottola
Benefit Plan Cybersecurity Considerations: A Recordkeeper and Plan Perspective, Timothy Rouse, David Levine, Allison Itami, and Benjamin Taylor
Working Papers from 2017
Getting More from Less in Defined Benefit Plans: Three Levers for a Low-Return World, Daniel B. Berkowitz, Andrew S. Clarke, Kevin J. DiCiurcio, Kimberly A. Stockton, and Daniel W. Wallick
Low Returns and Optimal Retirement Savings, David Blanchett, Michael Finke, and Wade D. Pfau
How Persistent Low Returns Will Shape Saving and Retirement, Robert Clark, Raimond Maurer, and Olivia S. Mitchell
Politics, Independence, and Retirees: Long-term Low Interest Rates at the US Federal Reserve, Peter Conti-Brown
Retirement Saving and Decumulation in a Persistent Low-Return Environment, Jason J. Fichtner and Jason S. Seligmann
State-Sponsored Retirement Savings Plans: New Approaches to Boost Retirement Plan Coverage, William G. Gale and David C. John
Global Developments in Employee Benefits, Natalia Garabato, Jonathan Gardner, and Steve Nyce
How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior, Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
Intelligent Risk Taking: How to Secure Retirement in a Low Expected Return World, Antti Illmanen and Matthew Rauseo
Debt and Financial Vulnerability on the Verge of Retirement, Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
Enhancing Risk Management for an Aging World, Olivia S. Mitchell
Evaluating Lump Sum Incentives for Delayed Social Security Claiming, Olivia S. Mitchell and Raimond Maurer
Does Financial Literacy Increase Students’ Perceived Value of Schooling?, Luca Maria Pesando
Challenges and Opportunities of Living and Working Longer, Joseph F. Quinn and Kevin E. Cahill
Investing for Retirement in a Low Returns Environment: Making the Right Decisions to Make the Money Last, Catherine Reilly and Alistair Byrne
Helping Employers Become Age-Ready, Yvonne Sonsino
Attention Variation and Welfare: Theory and Evidence from a Tax Salience Experiment, Dmitry Taubinsky and Alex Rees-Jones
Working Papers from 2016
Aging and Competence in Decision Making, Wandi Bruine de Bruin
Advice in Defined Contribution Plans, Gordon L. Clark, Maurizio Fiaschetti, and Peter Tufano
Worker Choices About Payouts in Public Pensions, Robert L. Clark and Janet Cowell
Employee Financial Literacy and Retirement Plan Behavior: A Case Study, Robert Clark, Olivia S. Mitchell, and Annamaria Lusardi
Aging and Exploitation: How Should the Financial Service Industry Respond?, Marguerite DeLiema and Martha Deevy
Retirement and Cognitive Functioning: International Evidence, Raquel Fonseca, Arie Kapteyn, and Gema Zamarro
Challenges for Financial Decision Making at Older Ages, Keith Jacks Gamble
Introduction: Financial Decision Making and Retirement Security in an Aging World, P. Brett Hammond, Olivia S. Mitchell, and Steve Utkus
Understanding and Combating Investment Fraud, Christine N. Kieffer and Gary R. Mottola
Choosing a Financial Advisor: When and How to Delegate?, Hugh Hoikwang Kim, Raimond Maurer, and Olivia S. Mitchell
Seven Life Priorities in Retirement, Surya Kolluri and Cynthia Hutchins
Older Women’s Labor Market Attachment, Retirement Planning, and Household Debt, Annamaria Lusardi and Olivia S. Mitchell
Workplace-Linked Pensions for an Aging Demographic, Olivia S. Mitchell and John Piggott
Working Papers from 2015
Pension Fund Investment in Infrastructure and Global Financial Regulation, Javier Alonso, Alfonso Arellano, and David Tuesta
Retirement Replacement Rates: What and How, Andrew G. Biggs
Cognitive Constraints on Valuing Annuities, Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, and Olivia S. Mitchell
Mark-to-Market Accounting for United States Corporate Pensions: Implementation and Impact, Joseph Busillo, Thomas Harvey, and Bryan Hoffman
Lessons for Public Pensions from Utah’s Move to Pension Choice, Robert L. Clark, Emma Hanson, and Olivia S. Mitchell
Financial Knowledge and 401(k) Investment Performance: A Case Study, Robert Clark, Olivia S. Mitchell, and Annamaria Lusardi
Determinants of Saving for Old Age around the World, Asli Demirgüç-Kunt, Leora Klapper, and George A. Panos
Ambiguity Aversion and Household Portfolio Choice Puzzles: Empirical Evidence, Stephen G. Dimmick, Roy Kouwenberg, Olivia S. Mitchell, and Kim Peijnenburg
Fundamentals of Cost and Risk that Matter to Pension Savers and Life Annuitants, Catherine Donnelly, Montserrat Guillén, and Jens Perch Nielsen
The New Insurance Supervisory Landscape: Implications for Insurance and Pensions, Peter A. Fisher
The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings, Gopi Shah Goda, Matthew R. Levy, Colleen Flaherty Manchester, Aaron Sojourner, and Joshua Tasoff
Narrow Framing and Long-Term Care Insurance, Daniel Gottlieb and Olivia S. Mitchell
Risk Disclosure in the European Insurance Industry: Implications for Occupational Pension Funds, Karel Van Hulle
Simplifying Choices in Defined Contribution Retirement Plan Design, Donald B. Keim and Olivia S. Mitchell
Borrowing from the Future: 401(k) Plan Loans and Loan Defaults, Timothy Jun Lu, Olivia S. Mitchell, Stephen P. Utkus, and Jean A. Young
Social Interaction Effects and Individual Portfolio Choice: Evidence from 401(k) Pension Plan Investors, Timothy (Jun) Lu and Ning Tang
Accounting-based Asset Return Smoothing in Participating Life Annuities: Implications for Annuitants, Insurers, and Policymakers, Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Ivonne Siegelin
Using a Life Cycle Model to Evaluate Financial Literacy Program Effectiveness, Pierre-Carl Michaud, Annamaria Lusardi, and Olivia S. Mitchell
Financial Literacy and Economic Outcomes: Evidence and Policy Implications, Olivia S. Mitchell and Annamaria Lusardi
Implications of the New Regulatory Order for Retirement System Risk Management, Olivia S. Mitchell, Raimond Maurer, and J. Michael Orszag
It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans, Veronika K. Pool, Clemens Sialm, and Irina Stefanescu
Pensions, Risk, and Global Systemically Important Financial Institutions, Brian Reed and Dan Waters
Working Papers from 2014
Does Financial Education Enhance Financial Preparedness? Evidence from a Field Experiment in Singapore, Rashmi Barua, Benedict Koh, and Olivia S. Mitchell
United States Pension Benefit Plan Design Innovation: Labor Unions as Agents of Change, David S. Blitzstein
The Promise of Defined Ambition Plans: Lessons for the United States, Lans Bovenberg, Roel Mehlkopf, and Theo Nijman
Insights From Switzerland’s Pension System, Monika Bütler
The Australian Retirement Income System: Comparisons with and Lessons for the United States, Rafal Chomik and John Piggott
The Changing Nature of Retirement, Julia Coronado
Retirement Shares Plan: A New Model of Risk Sharing, Donald E. Fuerst
Back to the Future: Hybrid Co-operative Pensions and the TIAA-CREF System, Benjamin Goodman and David P. Richardson
Singapore’s Social Security Savings System: A Review and Some Lessons for the United States, Benedict SK Koh
What’s Next for VEBAs? The Impact of Declining Employer-Provided Health Care Coverage and the Affordable Care Act, Erin S. Leighty
Will They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum, Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Tatjana Schimetschek
Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities, Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Ivonne Siegelin
Changing Frameworks for Retirement Security, Olivia S. Mitchell
Are Retirees Falling Short? Reconciling the Conflicting Evidence, Alicia H. Munnell, Matthew S. Rutledge, and Anthony Webb
Risk-sharing Alternatives for Pension Plan Design: An Overview and Case Studies, Anna M. Rappaport and Andrew Peterson
Optimal Portfolio Choice in Retirement with Participating Life Annuities, Ralph Rogalla
The Portfolio Pension Plan: An Alternative Model for Retirement Security, Richard C. Shea, Robert S. Newman, and Jonathan P. Goldberg
Entitlement Reform and the Future of Pensions, Eugene C. Steuerle, Benjamin H. Harris, and Pamela J. Perun
Retirement Plans and Prospects for Retirement Income Adequacy, Jack VanDerhei
Cultivating Pension Plans, John M. Vine
Working Papers from 2013
Evaluating Pension Insurance Pricing, David F. Babbel