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American Economic Review Vol. 102 No. 3 2012

Effectiveness of Employer-Provided Financial Information: Hiring to Retiring

Robert L. Clark1; Melinda Sandler Morrill2; Steven G. Allen3

1 Department of Economics, Box 7229, North Carolina State University, Raleigh, NC 27695. · 2 Department of Economics, Box 8110, North Carolina State University, Raleigh, NC 27695. · 3 Poole College of Management, Box 7229, North Carolina State University, Raleigh, NC 27695.

Abstract

Workers plan and save for retirement throughout their careers. Individuals must navigate complex financial instruments and understand public and employer-provided retirement plan characteristics. Beginning when a worker is first hired, most employers provide the option to contribute to retirement saving plans. As workers near retirement, they face many choices that have considerable consequences for their retirement income security. At these two important periods, employers can provide timely information assisting workers in making choices that optimize lifetime wellbeing. Our research, conducted in cooperation with several large employers, illustrates the importance of employer-provided education in increasing worker understanding of several retirement-related issues.

DOI
10.1257/aer.102.3.314
Volume
102
Issue
3
Pages
314-318
Language
en
Sources
bibtex:phds-export.bib openalex crossref

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