News and Media Archives

Americans Tap 401(k) Plans After Hurricanes and Natural Disasters

Satellite view of a large hurricane swirling over the Gulf of Mexico, nearing the coastlines of the southern United States, particularly Florida, with visible cloud patterns and the eye of the storm.

Defaults on 401(k) disaster-relief hardship withdrawals trigger income tax plus a 10% penalty explains, Wharton Professor Olivia S. Mitchell via the WSJ.…Read More

Study Finds Millennials Are Less Likely to be Secure in Their Retirement

A couple sitting on a bed, managing finances. One person is counting money, while the other is using a calculator and holding receipts. A laptop is nearby.

Lower employment, marriage, and home ownership among Millennials expected to cause more retirement insecurity, explain researchers Richard Johnson and Karen Smith of the Urban Institute via Plansponsor. …Read More

Pension Research Council Welcomes BlackRock as Director Level Member

The Pension Research Council at the Wharton School of the University of Pennsylvania is pleased to announce that BlackRock has joined the Council as a Director Level Member for 2023.…Read More

Information Processing Frictions and Suboptimal Investment in 529 College Savings Plans

Promotional graphic for a Financial Literacy Seminar featuring Olivia S. Mitchell from the University of Pennsylvania on October 19, 2022.

Wharton Professor and Director of the Pension Research Council, Olivia S. Mitchell, will speak Wednesday, October 19th on “Information Processing Frictions and Suboptimal Investment in 529 College Savings Plans,” a Fed/GFLEC Financial Literacy Seminar at The George Washington University.…Read More

A retirement mystery: How did workers keep saving through the pandemic?

A pink piggy bank wearing a blue surgical mask, symbolizing financial protection or caution during a health crisis.

Despite job losses, COVID’s effect on retirement savings was inconsequential – unlike the Great Recession – explains John Sabelhaus from the Brookings Institute via FinancialPlanning.…Read More

New Developments in Retirement Risk Management

Wharton Professor and Director of the Pension Research Council, Olivia S. Mitchell, will speak Sept. 28 on “New Developments in Retirement Risk Management,” a Hilldale Lecture at University of Wisconsin Madison.…Read More

ARIA 2022 Kulp-Wright Book Award Winners

The image is a book cover titled "Remaking Retirement: Debt in an Aging Economy," edited by Olivia S. Mitchell and Annamaria Lusardi. It features an illustration of a classical figure in a robe, holding a stylized tablet.

Congrats to Profs. Annamaria Lusardi of George Washington University and GFLEC and Olivia S. Mitchell of Wharton of the PRC who won the ARIA 2022 Kulp-Wright Book Award for “Remaking Retirement: Debt in an Aging Economy.” The volume explores the rise in older persons’ debt and reviews policies to remedy these financial problems.…Read More

ESG, CIOs on crash course with politics

Person typing on a laptop surrounded by eco-friendly icons like recycling, solar energy, and green earth, symbolizing sustainable technology.

Is ESG investing in violation of or consistent with fiduciary duties? State-imposed political demands prove problematic for pension plan fiduciaries explains Professor Olivia S. Mitchell of the Wharton School via Pandionline.com (Registration required)…Read More

How would 401(k) ‘Rothification’ alter saving, retirement security, and inequality?

A small nest containing three eggs labeled "ROTH," "IRA," and "401k," placed on top of a simplified employee pension document, symbolizing retirement savings options.

Taxing 401(k) contributions versus payouts will alter saving, investment, consumption, & Social Security claiming. But there’s little rationale for policymakers to favor taxing pension contributions versus pension payouts, on egalitarian or revenue-enhancing grounds. Research by Vanya Horneff and Raimond Maurer of Goethe-Universität Frankfurt, and Olivia S. Mitchell of The Wharton School via Journal of Pension Economics & Finance.…Read More

Many 401(k) Participants Have No Idea How Cash Will Come Out

A person with a concerned expression reviews documents at a table, surrounded by papers, a tablet, a pen, and a coffee mug.

Retirement plan type, income level, and age all impact pension withdrawal choices for participants who terminate employment with company pensions, explain Profs. Olivia S. Mitchell of The Wharton School and Robert L. Clark of NC State Poole College of Management via ThinkAdvisor. Also participants with higher Financial Literacy levels are more likely to choose annuitized benefits. Download @PensionResearch working paper here.…Read More