Oregon’s state-sponsored auto-enrollment retirement program for workers whose employers don’t offer pensions: the program has helped some workers save, but others opted out. Wharton Prof. Olivia S. Mitchell examines the successes and shortcomings of the program, in a paper featured in the latest NBER Digest.…Read More
Women’s financial knowledge and confidence are quite low, with Black and Hispanic women particularly poorly served by one-size-fits-all financial education programs. Better-targeted programs that take their particular needs and circumstances into account would help, explains Wharton Prof. Olivia S. Mitchell in the Wharton Social Impact Faculty Spotlight. …Read More
The TIAA Institute is partnering with the Wharton School’s Boettner Center/Pension Research Council at the University of Pennsylvania to solicit research proposals focused on financial wellness and behavioral finance.…Read More
Changes to the RMD age affect mostly households with bequest motives, so financial institutions should consider their clients’ intentions before advising them on RMD strategies. A research review of work by Wharton Prof. Olivia S. Mitchell, cited in PlanSponsor. Original paper by Horneff, Maurer, and Mitchell entitled “Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model”.…Read More
Workplace-sponsored financial education programs, as well as programs targeted to the specific circumstances of Black and Hispanic women, would boost financial literacy far more than a one-size-fits-all approach, explains Wharton Prof. Olivia S. Mitchell to Julie Stich of IFEBP. Paper here: Financial Well-being among Black and Hispanic Women…Read More
Financially literate older Americans are less likely to carry excessive debt, as per Wharton Prof. Olivia S. Mitchell, Prof. Annamaria Lusardi of the George Washington University, and Noemi Oggero of the University of Turin, in a report spotlighted by NBER.…Read More
Early 401(k) withdrawals can drastically reduce retirement assets; if need be, borrowing from a retirement account can be a safer option, explains Wharton Prof. Olivia S. Mitchell. Via Knowledge@Wharton.…Read More
The Pension Research Council at the Wharton School of the University of Pennsylvania is pleased to announce that Capital Group has rejoined the Council as an Associate Level Member of the Council for 2021. Capital Group has been a PRC member since 2016.…Read More
Holding stock in your employer’s company can be riskier than investing in a well-diversified, tax-qualified retirement account, explains Wharton Prof. Olivia S. Mitchell, via Pensions & Investments. …Read More
Wharton Prof. Olivia S. Mitchell will discuss her recent book, ‘Remaking Retirement: Debt in an Aging Economy’ at the European Banking Federation’s 2021 European Money Week, Tuesday 23 March at 16:00 CET/11 AM EDT, ‘Financial Security at an Older Age: What Do We Need to Prepare For?’ Full event schedule and to register: https://www.ebf.eu/ebf-events/…Read More
