TONUITY: A NOVEL INDIVIDUAL-ORIENTED RETIREMENT PLAN

Retirement Plan Selection

We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm which transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their age. Employing regression discontinuity techniques, we find that the default increased the probability...

An Early-Retirement Plan for the States

New applications of nite automata, such as NLP and asynchronous circuit simulation, can require automata of millions or even billions of states. All known construction methods (in particular, the interesting reachability-based ones that save memory, such as the subset construction, and simultaneously minimizing constructions, such as Brzozowski's) have intermediate memory usage much larger than...

Assisting nursing students to plan for retirement.

Fund assortments, gender, and retirement plan participation

Purpose – This paper seeks to promote an understanding of gender effects on retirement plan participation as a function of fund assortment size. Design/methodology/approach – A decision simulation was conducted among 349 US adults whose task was to invest in a hypothetical 401(k) retirement plan. The number of mutual funds offered for investment was varied and the effects on the incidence and e...

Pension Plan Heterogeneity and Retirement Behavior∗

This paper examines the role of the shift in pension plans — from Defined Benefit to Defined Contribution — in explaining the recent increase in labor supply of older workers. A structural model of consumption, savings, Social Security, and pension plan heterogeneity is estimated using data from the Health and Retirement Study. Model simulations indicate that changes in pension plan composition...