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Journal of Pension Economics & Finance最新文献

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The impact of an employer match and automatic enrollment on the savings behavior of public-sector workers 雇主匹配和自动登记对公共部门员工储蓄行为的影响
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-03-04 DOI: 10.1017/s1474747221000366
J. Falk, Nadia S. Karamcheva
{"title":"The impact of an employer match and automatic enrollment on the savings behavior of public-sector workers","authors":"J. Falk, Nadia S. Karamcheva","doi":"10.1017/s1474747221000366","DOIUrl":"https://doi.org/10.1017/s1474747221000366","url":null,"abstract":"\u0000 We use administrative data on federal civilian workers' accounts in their employer-provided defined contribution plan, called the thrift savings plan (TSP), to provide new evidence on the effects of employer matching and defaults on workers' savings behavior. The empirical analysis relies on exogenous variation stemming from two natural experiments caused by policy changes to the TSP: the establishment of an employer match for workers hired after 1983 and the introduction of automatic enrollment for workers hired after July 2010. We find that the introduction of the employer match lead to a higher increase in both participation and contribution rates compared to the subsequent switch to automatic enrollment. In terms of portfolio allocations, we find that matching and automatic enrollment had small and minimal effects, respectively.","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45389799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Does pension information impact savings? 养老金信息会影响储蓄吗？
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-03-03 DOI: 10.1017/s1474747221000470
Najat El Mekkaoui, Bérangère Legendre
{"title":"Does pension information impact savings?","authors":"Najat El Mekkaoui, Bérangère Legendre","doi":"10.1017/s1474747221000470","DOIUrl":"https://doi.org/10.1017/s1474747221000470","url":null,"abstract":"\u0000 Many pension reforms in OECD countries included pension statements with the objective of improving individuals' financial security in retirement. Our objective is to assess the effectiveness of the pension information policy implemented in France and to investigate whether the pension statement results in better informed workers, who then increase their retirement savings. Using regression discontinuity designs combined with quantile regressions, we assess whether the changes in retirement savings and holding of assets are due to the pension information system and then quantify the impact. We conclude that a pension estimate sent to workers encourages the wealthiest to increase their retirement savings while it does not influence the savings of individuals with a low level of wealth.","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47808884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Vulnerability and Long-term Care in Europe: An Economic Perspective By Brugiavini Agar, Ludovico Carrino, Cristina Elisa Orso and Pasini Giacomo. Palgrave Macmillan, EUR 54.99, XIX 163 pages, 2017. Brugiavini Agar、Ludovico Carrino、Cristina Elisa Orso和Pasini Giacomo的《欧洲的脆弱性和长期护理：经济视角》。Palgrave Macmillan，54.99欧元，XIX 163页，2017年。
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-03-02 DOI: 10.1017/s1474747221000500
Daniel Avdic
{"title":"Vulnerability and Long-term Care in Europe: An Economic Perspective By Brugiavini Agar, Ludovico Carrino, Cristina Elisa Orso and Pasini Giacomo. Palgrave Macmillan, EUR 54.99, XIX 163 pages, 2017.","authors":"Daniel Avdic","doi":"10.1017/s1474747221000500","DOIUrl":"https://doi.org/10.1017/s1474747221000500","url":null,"abstract":"","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44948356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Social security programs and retirement around the world: reforms and incentives 世界各地的社会保障计划和退休:改革和激励
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-02-16 DOI: 10.1017/s1474747222000063
Keith P. Ambachtsheer
{"title":"Social security programs and retirement around the world: reforms and incentives","authors":"Keith P. Ambachtsheer","doi":"10.1017/s1474747222000063","DOIUrl":"https://doi.org/10.1017/s1474747222000063","url":null,"abstract":"","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48442427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Pension fund board governance and asset allocation: evidence from Switzerland 养老基金董事会治理与资产配置:来自瑞士的证据
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-02-11 DOI: 10.1017/s1474747221000494
Nadège Bregnard, Carolina Salva
{"title":"Pension fund board governance and asset allocation: evidence from Switzerland","authors":"Nadège Bregnard, Carolina Salva","doi":"10.1017/s1474747221000494","DOIUrl":"https://doi.org/10.1017/s1474747221000494","url":null,"abstract":"<p>We study whether pension fund board governance relates to asset allocation. Pension funds with well-governed boards have greater international diversification, lower cash holdings, and, when pension funds are small, invest more in risky assets. In particular, pension fund boards that establish comprehensive investment policies invest more in equities, in foreign assets, and hold less cash. We argue that a comprehensive investment policy is likely to serve as a proxy for the financial expertise available to the fund while it provides the set up to facilitate decision making. Finally, we further show that the presence of external financial experts is also associated with lower cash holdings.</p>","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":"112 ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PEF volume 21 issue 1 Cover and Front matter PEF第21卷第1期封面和封面
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-01-01 DOI: 10.1017/s1474747222000026
{"title":"PEF volume 21 issue 1 Cover and Front matter","authors":"","doi":"10.1017/s1474747222000026","DOIUrl":"https://doi.org/10.1017/s1474747222000026","url":null,"abstract":"","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":"f1 - f2"},"PeriodicalIF":1.2,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49657122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PEF volume 21 issue 1 Cover and Back matter PEF第21卷第1期封面和封底
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2022-01-01 DOI: 10.1017/s147474722200004x
{"title":"PEF volume 21 issue 1 Cover and Back matter","authors":"","doi":"10.1017/s147474722200004x","DOIUrl":"https://doi.org/10.1017/s147474722200004x","url":null,"abstract":"","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":"b1 - b2"},"PeriodicalIF":1.2,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45926196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Less is not more: 401(k) plan information and retirement planning choices 少不等于多:401(k)计划信息和退休计划选择
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2021-12-07 DOI: 10.1017/s1474747221000445
Eric Cardella, Charlene M. Kalenkoski, Michael Parent
{"title":"Less is not more: 401(k) plan information and retirement planning choices","authors":"Eric Cardella, Charlene M. Kalenkoski, Michael Parent","doi":"10.1017/s1474747221000445","DOIUrl":"https://doi.org/10.1017/s1474747221000445","url":null,"abstract":"<p>This paper presents the results of a choice experiment that is designed to examine whether changing how plan information is presented affects planned retirement-savings behavior. The main hypothesis is that providing plan information in a more concise format with helpful recommendations, rather than providing lengthy and detailed information, will alter retirement-planning choices. The specific choices examined include: whether to enroll, how much to contribute, and how to structure (broadly) the asset allocation. The choice experiment is conducted on three different samples: (i) a Qualtrics panel of new employees, (ii) a Qualtrics panel of job seekers, and (iii) a sample of business-school students. Our results suggest that, controlling for demographic and other factors, our main hypothesis was not supported by the data in any of the samples. Thus, the data cast some doubt on the notion that simplifying and condensing the retirement-plan information presented to employees will result in vastly different retirement-planning choices.</p>","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":"3 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Disclosure versus recognition: the value relevance of pensions 披露与确认：养老金的价值相关性
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2021-10-14 DOI: 10.1017/s147474722100038x
Luca Larcher
{"title":"Disclosure versus recognition: the value relevance of pensions","authors":"Luca Larcher","doi":"10.1017/s147474722100038x","DOIUrl":"https://doi.org/10.1017/s147474722100038x","url":null,"abstract":"\u0000 This paper compares how pension obligations impact the market value of United States corporations under two accounting regimes. Using a sample of firms that disclosed pension liabilities under Statement of Financial Accounting Standards (SFAS) No. 87 from 2001 to 2005 and recognized them under SFAS No. 158 from 2006 to 2014, I find that equity market participants take into account the net position of the pension fund only if it is recognized on the sponsor's balance sheet, thus mispricing the pension deficit/surplus under the disclosure regime. I also provide evidence suggesting that investors' perception of pension deficits/surpluses changed with the introduction of SFAS No. 158 in 2006.","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":"1 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43887113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Promoting public retirement savings accounts during tax filing: evidence from field experiments 在纳税申报期间促进公共退休储蓄账户：来自实地实验的证据
IF 1.2 4区 经济学
Journal of Pension Economics & Finance Pub Date : 2021-10-05 DOI: 10.1017/S1474747221000317
S. Roll, Sam Bufe, O. Kondratjeva, M. Grinstein‐Weiss
{"title":"Promoting public retirement savings accounts during tax filing: evidence from field experiments","authors":"S. Roll, Sam Bufe, O. Kondratjeva, M. Grinstein‐Weiss","doi":"10.1017/S1474747221000317","DOIUrl":"https://doi.org/10.1017/S1474747221000317","url":null,"abstract":"\u0000 In 2015, the U.S. Treasury Department launched myRA, a no-fee retirement account designed for people who lacked employer-sponsored retirement options. We report findings from two behavioral field experiments intended to motivate interest in using the tax refund to open and fund myRAs directly through the tax-filing process. These experiments, administered to more than 100,000 low-income tax filers in 2016, embedded persuasive messages in emails sent to filers and directly within online tax-filing software. We find that interest in myRA was generally very low, although interest and enrollment intentions varied depending on the framing of the program's benefits.","PeriodicalId":46635,"journal":{"name":"Journal of Pension Economics & Finance","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49127785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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