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Pension Research Council Working Papers
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- Fixed and Variable Longevity Annuities in Defined Contribution Plans: Optimal Retirement Portfolios Taking Social Security into Account
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
WP2023-01 - Household Investment in 529 College Savings Plans and Information Processing Frictions
James J. Li, Olivia S. Mitchell, and Christina Zhu
WP2023-02 - Early Pension Withdrawals in Chile During the Pandemic
Olga M. Fuentes, Olivia S. Mitchell, and Félix Villatoro
WP2023-03 - Four Facts About ESG Beliefs and Investor Portfolios
Stephano Giglio, Matteo Maggiori, Johannes Stroebel, Zhenhao Tan, Stephen Utkus, and Xiao Xu
WP2023-04 - Understanding Financial Vulnerability Among Asians, Blacks, and Hispanics in the United States
Andrea Hasler, Annamaria Lusardi, Olivia S. Mitchell, and Alessia Sconti
WP2023-05 - The Importance of Financial Literacy: Opening a New Field
Annamaria Lusardi and Olivia S. Mitchell
WP2023-06 - What Matters for Annuity Demand: Objective Life Expectancy or Subjective Survival Pessimism?
Karolos Arapakis and Gal Wettstein
WP2023-07 - Splurging After Reaching Your Goal:
How and When a Used (vs. Unused) Account Affects Consumption Behavior?
Siyuan Yin and Marissa A. Sharif
WP2023-08 - Registered Index-Linked Annuities in Qualified Retirement Plans
Cameron Ellis, Thorsten Moenig, and Jacqueline Volkman-Wise
WP2023-09 - Saving and Attitudes to the Future
John Knowles and Andrew Postlewaite
WP2023-10 - A Closer Look at Fringe Benefits for Faculty
Robert K. Toutkoushian
WP2023-11 - Selection into Financial Education and Effects on Portfolio Choice
Irina Gemmo, Pierre-Carl Michaud, and Olivia S. Mitchell
WP2023-12
- Fixed and Variable Longevity Annuities in Defined Contribution Plans: Optimal Retirement Portfolios Taking Social Security into Account
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- Financial Literacy and Financial Behavior at Older Ages
Olivia S. Mitchell and Annamaria Lusardi
WP2022-01 - Life-Cycle Portfolio Choice with Stock Market Loss Framing: Explaining the Empirical Evidence
Arwed Ebner, Vanya Horneff, and Raimond Maurer
WP2022-02 - Does financial education in high school affect retirement savings in adulthood?
Melody Harvey and Carly Urban
WP2022-03 - How the Pandemic Altered Americans’ Debt Burden and Retirement Readiness
Andrea Hasler, Annamaria Lusardi, and Olivia S. Mitchell
WP2022-04 - The Early Impacts of Coronavirus Pandemic on Americans’ Economic Security
Marco Angrisani, Jeremy Burke, and Arie Kapteyn
WP2022-05 - Overpaying and Undersaving? Correlated Mistakes in Retirement Saving and Health Insurance Choices
Adam Leive, Leora Frieberg, and Brent Davis
WP2022-06 - The Current State of U.S. Workplace Retirement Plan Coverage
John Sabelhaus
WP2022-07 - Is Attention Produced Optimally?
Erin T. Bronchetti, Judd B. Kessler, Ellen B. Magenheim, Dmitry Taubinsky, and Eric Zwick
WP2022-08 - Paying for Performance in Public Pension Plans
Yan Lu, Kevin Mullally, and Sugata Ray
WP2022-09 - Americans’ Financial Resilience during the Pandemic
Robert L. Clark and Olivia S. Mitchell
WP2022-10 - Movements In and Out of Poverty at Older Ages: Evidence from the HRS
Robert L. Clark, Annamaria Lusardi, and Olivia S. Mitchell
WP2022-11 - Factors Influencing the Choice of Pensions Distribution at Retirement
Robert L. Clark and Olivia S. Mitchell
WP2022-12 - Older Workers, Retirement, and Macroeconomic Shocks
Erika McEntarfer
WP2022-13 - Economic Conditions, the COVID-19 Pandemic Recession, and Implications for Disability Insurance in the United States
Nicole Maestas and Kathleen J. Mullen
WP2022-14 - Racial and Ethnic Differences in Longevity Perceptions and Implications for Financial Decision-Making
Abigail Hurwitz, Olivia S. Mitchell, and Orly Sade
WP2022-15 - The Safety Net Response to the Covid-19 Pandemic Recession and the Older Population
Robert A. Moffitt and James P. Ziliak
WP2022-16 - Changes in Retirement Savings During the COVID Pandemic
Elena Derby, Lucas Goodman, Kathleen Mackie, and Jacob Mortenson
WP2022-17 - Saving and Wealth Accumulation among Student Loan Borrowers: Implications for Retirement Preparedness
Lisa J. Dettling, Sarena F. Goodman, and Sarah J. Reber
WP2022-18 - Retirement Security and Health Costs
Glenn Follette and Louise Sheiner
WP2022-19 - Recessions and Retirement: New Evidence from the COVID-19 Pandemic
Courtney Coile and Haiyi Zhang
WP2022-20 - Wealth Inequality and Retirement Preparedness: A Cross-Cohort Perspective
John Sabelhaus and Alice Henriques Volz
WP2022-21 - How Gloomy is the Retirement Outlook for Millennials?
Richard W. Johnson and Karen E. Smith
WP2022-22 - Motivated Errors
Christine L. Exley and Judd B. Kessler
WP2022-23 - Information Avoidance and Image Concerns
Christine L. Exley and Judd B. Kessler
WP2022-24 - Financial Regret at Older Ages and Longevity Awareness
Abigail Hurwitz and Olivia S. Mitchell
WP2022-25
- Financial Literacy and Financial Behavior at Older Ages
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- Longevity Perceptions and Saving Decisions During the COVID-19 Outbreak: An Experimental Investigation
Abigail Hurwitz, Olivia S. Mitchell, and Orly Sade
WP2021-01 - Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
WP2021-02 - Financial Well-being among Black and Hispanic Women
accepted for publication by the Journal of Retirement
Robert Clark, Annamaria Lusardi, Olivia S. Mitchell, and Hallie Davis
WP2021-03 - Shoring Up Shortfalls: Women, Retirement and the Growing GigSupp Economy
Caroline Lewis Bruckner and Jonathan Barry Forman
WP2021-04 - How do Behavioral Approaches to Increase Savings Compare? Evidence from Multiple Interventions in the U.S. Army
Richard W. Patterson and William L. Skimmyhorn
WP2021-05 - Auctioning Annuities
Gaurab Aryal, Eduardo Fajnzylber, Maria F. Gabrielli, and Manuel Willington
WP2021-06 - Testing Methods to Enhance Longevity Awareness
Abigail Hurwitz, Olivia S. Mitchell, and Orly Sade
WP2021-07 - Income Trajectories in Later Life: Longitudinal Evidence from the Health and Retirement Study
Olivia S. Mitchell, Robert Clark, and Annamaria Lusardi
WP2021-08 - Own and Parents’ Schooling as Predictors of Cognition: Findings from the Longitudinal Chilean Social Protection Survey
Irma T. Elo, Jere R. Behrman, David Bravo, Sneha Mani, and Alejandro Sanchez Beccara
WP2021-09 - ESG and Downside Risks: Implications for Pension Funds
Zacharias Sautner and Laura T. Starks
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-10 - Private Retirement Systems and Sustainability: Insights from Australia, the UK, and the US
Nathan Fabian, Mikael Homanen, Nikolaj Pedersen, and Morgan Slebos
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-11 - Eliciting Pension Beneficiaries’ Sustainability Preferences: Why and How?
Rob M.M.J. Bauer and Paul M.A. Smeets
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-12 - The Origins of ESG in Pensions: Strategies and Outcomes
Stéphanie Lachance and Judith C. Stroehle
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-13 - Sustainable Investment in Retirement Plans: Introduction
Olivia S. Mitchell, P. Brett Hammond, and Raimond Maurer
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-14 - ESG and Expected Returns on Equities: The Case of Environmental Ratings
Christopher C. Geczy and John B. Guerard, Jr.
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-15 - How the Norwegian SWF Balances Ethics, ESG Risks, and Returns: Can this Approach Work for Other Institutional Investors?
Anita Margrethe Halvorssen
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-16 - Global Pensions and ESG: Is There A Better Way?
Luba Nikulina
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-17 - What Does ESG Investing Really Mean? Implications for Investors of Separating Financial Materiality and Social Objectives
Linda-Eling Lee
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-18 - Pensions and ESG: An Institutional and Historical Perspective
Brett Hammond and Amy O’Brien
Published in Pension Funds and Sustainable Investment: Challenges and Opportunities
WP2021-19 - Sufficient Statistics for Nonlinear Tax Systems with Preference Heterogeneity
Antoine Ferey, Benjamin B. Lockwood, and Dmitry Taubinsky
WP2021-20
- Longevity Perceptions and Saving Decisions During the COVID-19 Outbreak: An Experimental Investigation
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- Optimal Default Retirement Saving Policies: Theory and Evidence from OregonSaves
Mingli Zhong
WP2020-01 - How Cognitive Ability and Financial Literacy Shape the Demand for Financial Advice at Older Ages
Hugh Hoikwang Kim, Raimond Maurer, and Olivia S. Mitchell
Published in The Journal of the Economics of Ageing; Volume 20; 2021; 100329 (open access)
WP2020-02 - Target Date Funds and Portfolio Choice in 401(k) Plans
Olivia S. Mitchell and Stephen P. Utkus
WP2020-03 - Understanding Debt in the Older Population
Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
WP2020-04 - Social Security Research at the University of Michigan Retirement and Disability Research Center
John Laitner, Eric French, Alan L. Gustman, Michael D. Hurd, Olivia S. Mitchell, Kathleen J. Mullen, Susan C. Barnes
Published in the Social Security Bulletin (80)1: 19-29, 2020
WP2020-05 - How the Coronavirus Could Permanently Cut Near-Retirees’ Social Security Benefits
Andrew G. Biggs
WP2020-06 - Financial Education Affects Financial Knowledge and Downstream Behaviors
Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, and Carly Urban
WP2020-07 - Building Better Retirement Systems in the Wake of the Global Pandemic
Olivia S. Mitchell
WP2020-08 - Perceptions of Mortality: Individual Assessment of Longevity Risk
Kathleen McGarry
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-09 - Property Tax Deferral: Can a Public-Private Partnership Help Provide Lifetime Income?
Alicia H. Munnell, Wenliang Hou, and Abigail N. Walters
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-10 - Working Longer Solves (Almost) Everything: The Correlation Between Employment, Social Engagement and Longevity
Tim Driver and Amanda Henshon
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-11 - Disability-free Life Trends at Older Ages: Implications for Longevity Risk Management
Douglas A. Wolf
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-12 - Introduction: New Models for Managing Longevity Risk: Public-Private Partnerships
Olivia S. Mitchell
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-13 - Public-Private Partnerships Extend Community-based Organization’s Longevity
William J. Dionne and Dozene Guishard
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-14 - Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves
John Chalmers, Olivia S. Mitchell, Jonathan Reuter, and Mingli Zhong
WP2020-15 - New Financial Instruments for Managing Longevity Risk
John Kiff
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-16 - State-sponsored Pensions for Private Sector Workers: The Case for Pooled Annuities and Tontines
Richard K. Fullmer and Jonathan Barry Forman
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-17 - Innovative Strategies to Finance and Deliver Long-term Care
Nora Super, Arielle Burstein, Jason Davis, and Caroline Servat
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-18 - Building on Hope or Tackling Fear? Policy Responses to the Growing Costs of Alzheimer’s Disease and Other Dementias
Adelina Comas-Herrera
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-19 - Does Working Longer Enhance Old Age?
Maria D. Fitzpatrick
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-20 - Aging in Place: The Role of Public-Private Partnerships
Nancy A. Hodgson
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-21 - The Market for Reverse Mortgages among Older Americans
Christopher Mayer and Stephanie Moulton
Published in New Models for Managing Longevity Risk: Public-Private Partnerships
WP2020-22 - Asset-Rich and Cash-Poor: Which Older Adults Value Reverse Mortgages?
Joelle H. Fong, Olivia S. Mitchell, and Benedict SK. Koh
WP2020-23 - Financial Literacy and Financial Decision-making at Older Ages
Joelle H. Fong, Benedict SK. Koh, Olivia S. Mitchell, and Susann Rohwedder
WP2020-24 - Financial Fragility during the COVID-19 Pandemic
Robert L. Clark, Annamaria Lusardi, and Olivia S. Mitchell
WP2020-25
- Optimal Default Retirement Saving Policies: Theory and Evidence from OregonSaves
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- Retirement Preparedness and Financial Literacy in Singapore: How Do the Self-Employed Compare?
Benedict Koh and Olivia S. Mitchell
WP2019-01 - Ambiguity Attitudes about Investments: Evidence from the Field
Kanin Anantanasuwong, Roy Kouwenberg, Olivia S. Mitchell, and Kim Peijnenburg
WP2019-02 - Trust and Retirement Preparedness: Evidence from Singapore
Benedict Koh, Olivia S. Mitchell, and Joelle H. Fong
WP2019-03 - Factors Affecting Temporal Discounting in Older Adults
Joseph W. Kable, Karolina Lempert, and David Wolk
WP2019-04 - Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing
Jeffrey R. Brown, Arie Kapteyn, Erzo F. P. Luttmer, Olivia S. Mitchell, and Anya Samek
WP2019-05 - The Chinese Pension System
Hanming Fang and Jin Feng
WP2019-06 - Five Facts About Beliefs and Portfolios
Stefano Giglio, Matteo Maggiori, Johannes Stroebel, and Stephen Utkus
WP2019-07 - Debt Close to Retirement and Its Implications for Retirement Well-being
Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-08 - The Graying of American Debt
Meta Brown, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
Published in Remaking Retirement: Debt in an Aging EconomyWP2019-09 - The Risk of Financial Hardship in Retirement: A Cohort Analysis
Jason Brown, Karen Dynan, and Theodore Figinski
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-10 - Financial Distress among the Elderly: Bankruptcy Reform and the Financial Crisis
Wenli Li and Michelle J. White
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-11 - Mortgage Foreclosures and Older Americans: A Decade after the Great Recession
Lori A. Trawinski
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-12 - Paying it Back: Real-World Debt Service Trends and Implications for Retirement Planning
Anne Lester, Katherine Santiago, Je Oh, Livia Wu, and Ekaterina Chegaeva
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-13 - Is Rising Household Debt Affecting Retirement Decisions?
Barbara A. Butrica and Nadia S. Karamcheva
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-14 - How Much Should the Poor Save for Retirement? Data and Simulations on Retirement Income Adequacy Among Low-Earning Households
Andrew G. Biggs
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-15 - Financial Well-being of State and Local Government Retirees in North Carolina
Robert L. Clark and Siyan Liu
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-16 - Household Debt and Aging in Japan
Charles Yuji Horioka and Yoko Niimi
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-17 - Understanding the Macro-Financial Effects of Household Debt: A Global Perspective
Adrian Alter, Alan Feng, and Nico Valckx
Published in Remaking Retirement: Debt in an Aging Economy
WP2019-18 - Implications of Money-Back Guarantees for Individual Retirement Accounts: Protection Then and Now
Vanya Horneff, Daniel Liebler, Raimond Maurer, and Olivia S. Mitchell
WP2019-19 - How Would 401(k) ‘Rothification’ Alter Saving, Retirement Security, and Inequality?
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
Published in the Journal of Pension Economics & Finance; Volume 21; 2022; 1-19 (open access)
WP2019-20
- Retirement Preparedness and Financial Literacy in Singapore: How Do the Self-Employed Compare?
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- How FinTech is Reshaping the Retirement Planning Process
Julie Agnew and Olivia S. Mitchell
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-00 - Cognitive Ability, Financial Literacy, and the Demand for Financial Advice at Older Ages: Findings from the Health and Retirement Study
Hugh H. Kim, Raimond Maurer, and Olivia S. Mitchell
WP2018-01 - Financial Knowledge and Portfolio Complexity in Singapore
Benedict Koh, Olivia S. Mitchell, and Susann Rohwedder
WP2018-02 - Financial Fraud among Older Americans: Evidence and Implications
Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, and Olivia S. Mitchell
WP2018-03 - Assessing the Impact of Financial Education Programs: A Quantitative Model
Annamaria Lusardi, Pierre-Carl Michaud, and Olivia S. Mitchell
WP2018-04 - Personality Traits, Intra-household Allocation and the Gender Wage Gap
Christopher J. Flinn, Petra E. Todd, and Weilong Zhang
WP2018-05 - Exploring the Risks and Consequences of Elder Fraud Victimization: Evidence from the Health and Retirement Study
Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, and Olivia S. Mitchell
WP2018-06 - How Will Persistent Low Expected Returns Shape Household Economic Behavior?
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
WP2018-07 - Learning and Confirmation Bias: Measuring the Impact of First Impressions and Ambiguous Signals
Julie Agnew, Hazel Bateman, Christine Eckert, Fedor Iskhakov, Jordan Louviere, and Susan Thorp
WP2018-08 - Household Portfolio Underdiversification and Probability Weighting: Evidence from the Field
Stephen G. Dimmock, Roy Kouwenberg, Olivia S. Mitchell, and Kim Peijnenburg
WP2018-09 - How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors
Justine Hastings and Olivia S. Mitchell
WP2018-10 - Understanding Debt at Older Ages and Its Implications for Retirement Well-being
Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
WP2018-11 - The Emergence of the Robo-advisor
Jill E. Fisch, Marion Labouré, and John A. Turner
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-12 - Transformation of Investment Advice: Digital Investment Advisors as Fiduciaries
Jennifer L. Klass and Eric L. Perelman
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-13 - FinTech Disruption: Opportunities to Encourage Financial Responsibility
Julianne Callaway
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-14 - Ethics, Insurance Pricing, Genetics, and Big Data
Robert Klitzman
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-15 - Benefit Plan Cybersecurity Considerations: A Recordkeeper and Plan Perspective
Timothy Rouse, David Levine, Allison Itami, and Benjamin Taylor
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-16 - Designing for Older Adults: Overcoming Barriers to a Supportive, Safe, and Healthy Retirement
Cosmin Munteanu, Benett Axtell, Hiba Rafih, Amna Liaqat, Yomna Aly
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-17 - The Big Spenddown: Digital Investment Advice and Decumulation
Steven Polansky, Peter Chandler, and Gary R. Mottola
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-18 - Behavioral Finance, Decumulation, and the Regulatory Strategy for Robo-Advice
Tom Baker and Benedict Dellaert
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-19 - Matching FinTech Advice to Participant Needs: Lessons and Challenges
Stephen L. Deschenes and P. Brett Hammond
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-20 - The FinTech Opportunity
Thomas Philippon
Published in The Disruptive Impact of FinTech on Retirement Systems
WP2018-21
- How FinTech is Reshaping the Retirement Planning Process
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- How Persistent Low Returns Will Shape Saving and Retirement
Robert Clark, Raimond Maurer, and Olivia S. Mitchell
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-00 - Does Financial Literacy Increase Students’ Perceived Value of Schooling?
Luca Maria Pesando
WP2017-01 - Optimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Tatjana Schimetschek
Published in Journal of Risk and Insurance; Volume 88; 2021; 5-27 (open access)
WP2017-02 - Putting the Pension Back in 401(k) Plans: Optimal versus Default Longevity Income Annuities
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
Published in The Journal of Banking & Finance; Volume 114, 2020, 105783 (open access)
WP2017-03 - Politics, Independence, and Retirees: Long-term Low Interest Rates at the US Federal Reserve
Peter Conti-Brown
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-04 - Low Returns and Optimal Retirement Savings
David Blanchett, Michael Finke, and Wade Pfau
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-05 - Getting More from Less in Defined Benefit Plans: Three Levers for a Low-Return World
Daniel B. Berkowitz, Andrew S. Clarke, Kevin J. DiCiurcio, Kimberly A. Stockton, and Daniel W. Wallick
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-06 - Investing for Retirement in a Low Returns Environment: Making the Right Decisions to Make the Money Last
Catherine Reilly and Alistair Byrne
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-07 - Challenges and Opportunities of Living and Working Longer
Joseph F. Quinn and Kevin E. Cahill
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-08 - How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-09 - Retirement Saving and Decumulation in a Persistent Low-Return Environment
Jason J. Fichtner and Jason S. Seligman
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-10 - Helping Employers Become Age-Ready
Yvonne Sonsino
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-11 - State-Sponsored Retirement Savings Plans: New Approaches to Boost Retirement Plan Coverage
William G. Gale and David C. John
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-12 - Global Developments in Employee Benefits
Jonathan Gardner, Natalia Garabato, and Steve Nyce
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-13 - Intelligent Risk Taking: How to Secure Retirement in a Low Expected Return World
Antti Ilmanen and Matthew Russo
Published in How Persistent Low Returns Will Shape Saving and Retirement
WP2017-14 - Debt and Financial Vulnerability on the Verge of Retirement
Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero
WP2017-15 - Evaluating Lump Sum Incentives for Delayed Social Security Claiming
Olivia S. Mitchell and Raimond Maurer
WP2017-16 - Enhancing Risk Management for an Aging World
Olivia S. Mitchell
WP2017-18
- How Persistent Low Returns Will Shape Saving and Retirement
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- Introduction: Financial Decision Making and Retirement Security in an Aging World
P. Brett Hammond, Olivia S. Mitchell, and Steve Utkus
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-00 - Employee Financial Literacy and Retirement Plan Behavior: A Case Study
Robert Clark, Annamaria Lusardi, and Olivia S. Mitchell
WP2016-02 - Workplace-Linked Pensions for an Aging Demographic
Olivia S. Mitchell and John Piggott
WP2016-03 - Aging and Exploitation: How Should the Financial Service Industry Respond?
Marguerite DeLiema and Martha Deevy
WP2016-04 - Time Discounting and Economic Decision-making among the Elderly
David Huffman, Raimond Maurer, and Olivia S. Mitchell
Published in The Journal of the Economics of Ageing; Volume 14; 2019; 100121 (open access)
WP2016-05 - Attention Variation and Welfare: Theory and Evidence from a Tax Salience Experiment
Dmitry Taubinsky and Alex Rees Jones
WP2016-06 - Older Women’s Labor Market Attachment, Retirement Planning, and Household Debt
Annamaria Lusardi and Olivia S. Mitchell
WP2016-07 - Sex Mortality Differentials in the United States: The Role of Cohort Smoking Patterns
Samuel H. Preston and Haidong Wang
WP2016-08 - Older Peoples’ Willingness to Delay Social Security Claiming
Raimond Maurer and Olivia S. Mitchell
Published in Journal of Pension Economics & Finance; Volume 20; 2021; 410-425 (open access)
WP2016-10 - Aging and Competence in Decision Making
Wändi Bruine de Bruin
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-11 - Challenges for Financial Decision Making at Older Ages
Keith Jacks Gamble
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-12 - Retirement and Cognitive Functioning: International Evidence
Raquel Fonseca, Arie Kapteyn, and Gema Zamarro
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-13 - Seven Life Priorities in Retirement
Surya Kolluri and Cynthia Hutchins
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-14 - Choosing a Financial Advisor: When and How to Delegate?
Hugh Hoikwang Kim, Raimond Maurer, and Olivia S. Mitchell
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-15 - Advice in Defined Contribution Plans
Gordon L. Clark, Maurizio Fiaschetti, and Peter Tufano
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-16 - Worker Choices About Payouts in Public Pensions
Robert L. Clark and Janet Raye Cowell
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-17 - Understanding and Combating Investment Fraud
Christine N. Kieffer and Gary R. Mottola
Published in Financial Decision Making and Retirement Security in an Aging World
WP2016-19
- Introduction: Financial Decision Making and Retirement Security in an Aging World
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- Financial Literacy and Economic Outcomes: Evidence and Policy Implications
Olivia S. Mitchell and Annamaria Lusardi
WP2015-01 - Using a Life Cycle Model to Evaluate Financial Literacy Program Effectiveness
Annamaria Lusardi, Pierre-Carl Michaud, and Olivia S. Mitchell
WP2015-02 - Narrow Framing and Long-Term Care Insurance
Daniel Gottlieb and Olivia S. Mitchell
WP2015-03 - Lessons for Public Pensions from Utah’s Move to Pension Choice
Robert L. Clark, Emma Hanson, and Olivia S. Mitchell
WP2015-05 - Simplifying Choices in Defined Contribution Retirement Plan Design
Donald B. Keim and Olivia S. Mitchell
WP2015-07 - It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans
Veronika K. Pool, Clemens Sialm, and Irina Stefanescu
WP2015-08 - Social Interaction Effects and Individual Portfolio Choice: Evidence from 401(k) Pension Plan Investors
Timothy (Jun) Lu and Ning Tang
WP2015-09 - Financial Knowledge and 401(k) Investment Performance: A Case Study
Robert Clark, Annamaria Lusardi, and Olivia S. Mitchell
WP2015-10 - The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings
Gopi Shah Goda, Matthew R. Levy, Colleen Flaherty Manchester, Aaron Sojourner, and Joshua Tasoff
WP2015-11 - Save More Later? The Effect of the Option to Choose Delayed Savings Rate Increases on Retirement Wealth
John Beshears, Hengchen Dai, Katherine L. Milkman, and Shlomo Benartzi
WP2015-12 - Implications of the New Regulatory Order for Retirement System Risk Management
Olivia S. Mitchell, Raimond Maurer, and J. Michael Orszag
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-13 - The New Insurance Supervisory Landscape: Implications for Insurance and Pensions
Peter A. Fisher
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-14 - Accounting-based Asset Return Smoothing in Participating Life Annuities: Implications for Annuitants, Insurers, and Policymakers
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Ivonne Siegelin
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-15 - Mark-to-Market Accounting for United States Corporate Pensions: Implementation and Impact
Joseph Busillo, Thomas Harvey, and Bryan Hoffman
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-16 - Risk Disclosure in the European Insurance Industry: Implications for Occupational Pension Funds
Karel Van Hulle
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-17 - Pensions, Risk, and Global Systemically Important Financial Institutions
Brian Reid and Dan Waters
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-18 - Determinants of Saving for Old Age around the World
Asli Demirgüç-Kunt, Leora Klapper, and Georgios A. Panos
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-19 - Retirement Replacement Rates: What and How
Andrew G. Biggs
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-20 - Fundamentals of Cost and Risk that Matter to Pension Savers and Life Annuitants
Catherine Donnelly, Montserrat Guillén, and Jens Perch Nielsen
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-21 - Pension Fund Investment in Infrastructure and Global Financial Regulation
Javier Alonso, Alfonso Arellano, and David Tuesta
Published in Retirement System Risk Management: Implications of the New Regulatory Order
WP2015-22
- Financial Literacy and Economic Outcomes: Evidence and Policy Implications
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- Borrowing from the Future: 401(k) Plan Loans and Loan Defaults
Timothy (Jun) Lu, Olivia S. Mitchell, Stephen P. Utkus, and Jean A. Young
WP2014-01 - Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Ivonne Siegelin
WP2014-02 - Changing Frameworks for Retirement Security
Olivia S. Mitchell
Published in Reimagining Pensions: The Next 40 Years
WP2014-04 - Are Retirees Falling Short? Reconciling the Conflicting Evidence
Alicia H. Munnell, Matthew S. Rutledge, and Anthony Webb
Published in Reimagining Pensions: The Next 40 Years
WP2014-05 - Retirement Plans and Prospects for Retirement Income Adequacy
Jack VanDerhei
Published in Reimagining Pensions: The Next 40 Years
WP2014-06 - The Changing Nature of Retirement
Julia Coronado
Published in Reimagining Pensions: The Next 40 Years
WP2014-07 - Entitlement Reform and the Future of Pensions
C. Eugene Steuerle, Benjamin H. Harris and Pamela J. Perun
Published in Reimagining Pensions: The Next 40 Years
WP2014-08 - Risk-sharing Alternatives for Pension Plan Design: An Overview and Case Studies
Anna M. Rappaport and Andrew Peterson
Published in Reimagining Pensions: The Next 40 Years
WP2014-09 - United States Pension Benefit Plan Design Innovation: Labor Unions as Agents of Change
David S. Blitzstein
Published in Reimagining Pensions: The Next 40 Years
WP2014-10 - Back to the Future: Hybrid Co-operative Pensions and the TIAA-CREF System
Benjamin Goodman and David P. Richardson
Published in Reimagining Pensions: The Next 40 Years
WP2014-11 - Retirement Shares Plan: A New Model of Risk Sharing
Donald E. Fuerst
Published in Reimagining Pensions: The Next 40 Years
WP2014-12 - The Portfolio Pension Plan: An Alternative Model for Retirement Security
Richard C. Shea, Robert S. Newman, and Jonathan P. Goldberg
Published in Reimagining Pensions: The Next 40 Years
WP2014-13 - Cultivating Pension Plans
John M. Vine
Published in Reimagining Pensions: The Next 40 Years
WP2014-14 - The Promise of Defined Ambition Plans: Lessons for the United States
Lans Bovenberg, Roel Mehlkopf, and Theo Nijman
Published in Reimagining Pensions: The Next 40 Years
WP2014-15 - Insights From Switzerland’s Pension System
Monika Bütler
Published in Reimagining Pensions: The Next 40 Years
WP2014-16 - The Australian Retirement Income System: Comparisons with and Lessons for the United States
Rafal Chomik and John Piggott
Published in Reimagining Pensions: The Next 40 Years
WP2014-17 - Singapore’s Social Security Savings System: A Review and Some Lessons for the United States
Benedict S. K. Koh
Published in Reimagining Pensions: The Next 40 Years
WP2014-18 - What’s Next for VEBAs? The Impact of Declining Employer-Provided Health Care Coverage and the Affordable Care Act
Erin Leighty
WP2014-19 - Optimal Portfolio Choice in Retirement with Participating Life Annuities
Ralph Rogalla
WP2014-20 - Cognitive Constraints on Valuing Annuities
Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, and Olivia S. Mitchell
WP2014-21 - Will They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Tatjana Schimetschek
WP2014-22 - Does Financial Education Enhance Financial Preparedness? Evidence from a Field Experiment in Singapore
Rashmi Barua, Benedict Koh, and Olivia S. Mitchell
WP2014-23
- Borrowing from the Future: 401(k) Plan Loans and Loan Defaults
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- Complexity as a Barrier to Annuitization: Do Consumers Know How to Value Annuities?
Jeffrey R. Brown, Arie Kapteyn, Erzo F. P. Luttmer, and Olivia S. Mitchell
WP2013-01 - The Economic Importance of Financial Literacy: Theory and Evidence
Annamaria Lusardi and Olivia S. Mitchell
WP2013-02 - Dynamic Asset Allocation with Regime Shifts and Long Horizon CVaR-Constraints
Huy Thanh Vo and Raimond Maurer
WP2013-03 - Optimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection
Vanya Horneff, Olivia S. Mitchell, Raimond Maurer, and Ralph Rogalla
WP2013-04 - Retirement in Japan and the United States: Cross-national Comparisons using the Japanese Study of Aging and Retirement (JSTAR) and the U.S. Health and Retirement Study (HRS)
Olivia S. Mitchell and John W. R. Phillips
WP2013-05 - Framing the Social Security Earnings Test
Jeffrrey R. Brown, Arie Kapteyn, Olivia S. Mitchell, and Teryn Mattox
WP2013-06 - Technical Review Panel for the PIMS Model: Final Report
Olivia S. Mitchell
WP2013-07 - Financial Market Assumptions & Models for Pension Plans: A Technical Comment on the PIMS Model Assumptions for Asset Markets
Christopher C. Geczy
WP2013-08 - Economic and Financial Approaches to Valuing Pension Liabilities
Robert Novy-Marx
WP2013-09 - Integrated Risk Management for Defined Benefit Pensions: Models and Metrics
Raimond Maurer
WP2013-10 - Observations on Actuarial Assumptions and Models for Defined Benefit Pension Plans
Donald E. Fuerst
WP2013-11 - Actuarial Perspectives on Defined Benefit Pension Risk – Modeling Emerging Issues
Christopher M. Bone
WP2013-12 - An Actuarial Perspective on Pension Plan Funding
Donald J. Segal
WP2013-13 - Modeling Risk-based Pension Insurance Premiums
Martin G. Clarke
WP2013-14 - Measuring and Explaining Pension System Risk
Frank J. Fabozzi
WP2013-15 - Joint Risk of DB Pension Underfunding and Sponsor Termination: Incorporating Options-Based Projections and Valuations into PIMS
Deborah Lucas
WP2013-16 - Evaluating Pension Insurance Pricing
David F. Babbel
WP2013-17 - Recreating Retirement Sustainability
Olivia S. Mitchell and Raimond Maurer
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-18 - Modeling and Management of Longevity Risk
Andrew J. G. Cairns
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-19 - Longevity Risk Management, Corporate Finance, and Sustainable Pensions
Guy Coughlan
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-20 - Model Risk, Mortality Heterogeneity, and Implications for Solvency and Tail Risk
Michael Sherris and Qiming Zhou
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-21 - The Securitization of Longevity Risk and its Implications for Retirement Security
Richard D. MacMinn, Patrick Brockett, Jennifer Wang, Ruilin Tian, and Yijia Lin
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-22 - Managing Capital Market Risk for Retirement
Enrico Biffis and Robert Kosowski
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-23 - Implications for Long-term Investors of the Shifting Distribution of Capital Market Returns
James Moore and Niels Pedersen
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-24 - Stress Testing Monte Carlo Assumptions
Marlena I. Lee
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-25 - Evolving Roles for Pension Regulations: Toward Better Risk Control?
E. Philip Davis
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-26 - Developments in European Pension Regulation: Risks and Challenges
Stefan Lundberg, Ruben Laros, and Laura Rebel
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-27 - Extreme Risks and the Retirement Anomaly
Tim Hodgson
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-28 - Risk Budgeting and Longevity Insurance: Strategies for Sustainable Defined Benefit Pension Funds
Amy Kessler
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-29 - The Funding Debate: Optimizing Pension Risk within a Corporate Risk Budget
Geoff Bauer, Gordon Fletcher, Julien Halfon, and Stacy Scapino
Published in Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
WP2013-30 - Contagious Runs in Money Market Funds and the Impact of a Government Guarantee
Hugh Hoikwang Kim
WP2013-31 - How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios
Andreas Hubener, Raimond Maurer, and Olivia S. Mitchell
WP2013-32 - Time is Money: Life Cycle Rational Inertia and Delegation of Investment Management
Hugh H. Kim, Raimond Maurer, and Olivia S. Mitchell
WP2013-33
- Complexity as a Barrier to Annuitization: Do Consumers Know How to Value Annuities?
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- Financial Sophistication in the Older Population
Annamaria Lusardi, Olivia S. Mitchell, and Vilsa Curto
WP2012-01 - Target-Date Funds in 401(k) Retirement Plans
Olivia S. Mitchell and Stephen P. Utkus
WP2012-02 - Participating Payout Life Annuities: Lessons from Germany
Raimond Maurer, Ralph Rogalla, and Ivonne Siegelin
WP2012-03 - Valuing Variable Annuities with Guaranteed Minimum Lifetime Withdrawal Benefits
Petra Steinorth and Olivia S. Mitchell
WP2012-04 - The Market for Retirement Financial Advice: An Introduction
Olivia S. Mitchell and Kent Smetters
Published in The Market for Retirement Financial Advice
WP2012-05 - The Market for Financial Advisers
John A. Turner and Dana M. Muir
Published in The Market for Retirement Financial Advice
WP2012-06 - Explaining Risk to Clients: An Advisory Perspective
Paula H. Hogan and Rick Miller
Published in The Market for Retirement Financial Advice
WP2012-07 - How Financial Advisers and Defined Contribution Plan Providers Educate Clients and Participants about Social Security
Mathew Greenwald, Andrew Biggs, and Lisa Schneider
Published in The Market for Retirement Financial Advice
WP2012-08 - How Important Is Asset Allocation To Americans’ Financial Retirement Security?
Alicia H. Munnell, Natalia Orlova, and Anthony Webb
Published in The Market for Retirement Financial Advice
WP2012-09 - The Evolution of Workplace Advice
Christopher L. Jones and Jason S. Scott
Published in The Market for Retirement Financial Advice
WP2012-10 - The Role of Guidance in the Annuity Decision-Making Process
Kelli Hueler and Anna Rappaport
Published in The Market for Retirement Financial Advice
WP2012-11 - Evaluating the Impact of Financial Planners
Cathleen D. Zick and Robert N. Mayer
Published in The Market for Retirement Financial Advice
WP2012-12 - Asking for Help: Survey and Experimental Evidence on Financial Advice and Behavior Change
Angela A. Hung and Joanne K. Yoong
Published in The Market for Retirement Financial Advice
WP2012-13 - How to Make the Market for Financial Advice Work
Andreas Hackethal and Roman Inderst
Published in The Market for Retirement Financial Advice
WP2012-14 - Financial Advice: Does it Make a Difference?
Michael Finke
Published in The Market for Retirement Financial Advice
WP2012-15 - When, Why, and How Do Mutual Fund Investors Use Financial Advisers?
Sarah A. Holden
Published in The Market for Retirement Financial Advice
WP2012-16 - Harmonizing the Regulation of Financial Advisers
Arthur B. Laby
Published in The Market for Retirement Financial Advice
WP2012-17 - Regulating Financial Planners: Assessing the Current System and Some Alternatives
Jason Bromberg and Alicia P. Cackley
Published in The Market for Retirement Financial Advice
WP2012-18 - Functional Disabilities and Nursing Home Admittance
Joelle H. Fong, Benedict SK. Koh, and Olivia S. Mitchell
WP2012-19 - Ambiguity Aversion and Household Portfolio Choice Puzzles: Empirical Evidence
Stephen G. Dimmock, Roy Kouwenberg, Olivia S. Mitchell, and Kim Peijnenburg
WP2012-20 - Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?
Jingjing Chai, Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
WP2012-21 - Financial Literacy and Retirement Planning in Australia
Julie R. Agnew, Hazel Bateman, and Susan Thorp
WP2012-22 - Health Expenditure Risk and Annuitization: Evidence from Medigap Coverage
Daniel W. Sacks
WP2012-23 - Identifying Idiosyncratic Career Taste and Skill with Income Risk
Stephen H. Shore, Daniel Barth, and Shane T. Jensen
WP2012-25 - Semiparametric Bayesian Modeling of Income Volatility Heterogeneity
Shane T. Jensen and Stephen H. Shore
WP2012-26
- Financial Sophistication in the Older Population
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- Qualified Retirement Plans: Analysis of Distribution and Rollover Activity
Victoria L. Bryant, Sarah Holden, and John Sabelhaus
WP2011-01 - Americans’ Financial Capability
Annamaria Lusardi
WP2011-02 - First-Round Impacts of the 2008 Chilean Pension System Reform
Jere R. Behrman, Maria Cecilia Calderon, Olivia S. Mitchell, Javiera Vasquez, and David Bravo
WP2011-03 - Costly Portfolio Adjustment and the Delegation of Money Management
Hugh Hoikwang Kim
WP2011-04 - Beyond Age and Sex: Enhancing Annuity Pricing
Joelle HY Fong
WP2011-05 - Retirement Security and the Financial and Economic Crisis: An Overview
Raimond Maurer, Olivia S. Mitchell, and Mark Warshawsky
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-06 - Changing Retirement Behavior in the Wake of the Financial Crisis
Julia L. Coronado and Karen Dynan
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-07 - Potential Impacts of the Great Recession on Future Retirement Incomes
Barbara A. Butrica, Richard W. Johnson, and Karen E. Smith
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-08 - Effects of the Economic Crisis on the Older Population: How Expectations, Consumption, Bequests, and Retirement Responded to Market Shocks
Michael Hurd and Susann Rohwedder
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-09 - Retirement Behavior and the Global Financial Crisis
Jason J. Fichtner, John W.R. Phillips, and Barbara A. Smith
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-10 - Trading in 401(k) Plans during the Financial Crisis
Ning Tang, Olivia S. Mitchell, and Stephen P. Utkus
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-11 - Life Cycle Impacts of the Financial Crisis on Optimal Consumption— Portfolio Choices and Labor Supply
Jingjing Chai, Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-12 - A Stress Test for the Private Employer Defined Contribution System
David Wray
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-13 - Defined Benefit Pension Plans and the Financial Crisis: Impact and Sponsors and Government Reactions
Mark J. Warshawsky
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-14 - Multiemployer Pension Plans Respond to the Financial Crisis
Judith F. Mazo and Eli Greenblum
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-15 - Adopting Hybrid Pension Plans: Effects of Economic Crisis and Regulatory Reform
Robert L. Clark, Alan Glickstein, and Tomeka Hill
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-16 - Collective Pensions and the Global Financial Crisis: The Case of the Netherlands
Lans Bovenberg and Theo Nijman
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-17 - How Have Public Sector Pensions Responded to the Financial Crisis?
Andrew G. Biggs
Published in Reshaping Retirement Security: Lessons from the Global Financial Crisis
WP2011-18 - Optimal Financial Literacy and Saving for Retirement
Annamaria Lusardi, Pierre-Carl Michaud, and Olivia S. Mitchell
WP2011-20 - Public Pension Pressures in the United States
Olivia S. Mitchell
WP2011-21
- Qualified Retirement Plans: Analysis of Distribution and Rollover Activity
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- Collective Investments for Pension Saving: Lessons from Singapore’s Central Provident Fund Scheme
Benedict SK Koh, Olivia S. Mitchell, and Joelle HY Fong
WP2010-01 - Implications of the Financial Crisis for Long Run Retirement Security
Olivia S. Mitchell
WP2010-02 - Rating Retirement Advice: A Critical Assessment of Retirement Planning Software
John A. Turner
WP2010-03 - A Matter Of Trust: Understanding Worldwide Public Pension Conversions
Kent A. Smetters and Walter Theseira
WP2010-04 - Ricardian Equivalence Under Asymmetric Information
Kent A. Smetters and Shinici Nishiyama
WP2010-05 - Optimal Portfolio Choice over the Life Cycle with Social Security
Kent A. Smetters and Ying Chen
WP2010-06 - Why Don’t People Annuitize? The Role of Advice Provided by Retirement Planning Software
John A. Turner
WP2010-07 - Health Cost Risk and Optimal Retirement Provision: A Simple Rule for Annuity Demand
Kim Peijnenburg, Theo Nijman, and Bas JM Werker
WP2010-08 - Longevity Risk Management in Singapore’s National Pension System
Joelle HY Fong, Olivia S. Mitchell, and Benedict SK Koh
WP2010-10 - Financial Literacy: Implications for Retirement Security and the Financial Marketplace
Pension Research Council
WP2010-11 - What’s on the Menu? Included versus Excluded Investment Funds for Singapore’s Central Provident Fund Investors
Benedict S. K. Koh and Olivia S. Mitchell
WP2010-12 - Turning Wealth into Lifetime Income: The Challenge Ahead
Olivia S. Mitchell and John Piggott
Published in Securing Lifelong Retirement Income
WP2010-13 - The Swedish Annuity Market: Where It Is and Where It’s Headed
Edward Palmer and Bo Larsson
Published in Securing Lifelong Retirement Income
WP2010-14 - Market Structure and Challenges for Annuities in India
Mukul G. Asher and Deepa Vasudevan
Published in Securing Lifelong Retirement Income
WP2010-15 - Annuities and their Derivatives: The Recent Canadian Experience
Moshe A. Milevsky and Ling-wu Shao
Published in Securing Lifelong Retirement Income
WP2010-16 - The United States Longevity Insurance Market
Anthony Webb
Published in Securing Lifelong Retirement Income
WP2010-17 - Too Much Risk to Insure? The Australian (non-) Market for Annuities
Hazel Bateman and John Piggott
Published in Securing Lifelong Retirement Income
WP2010-18 - Pension Payouts in Chile: Past, Present, and Future Prospects
Jose Ruiz and Olivia S. Mitchell
Published in Securing Lifelong Retirement Income
WP2010-19 - The Private Life Annuity Market in Germany: Products and Money’s Worth Ratios
Barbara Kaschützke and Raimond Maurer
Published in Securing Lifelong Retirement Income
WP2010-20 - Annuity Markets in Japan
Junichi Sakamoto
Published in Securing Lifelong Retirement Income
WP2010-21 - Compulsory and Voluntary Annuity Markets in the United Kingdom
Edmund Cannon and Ian Tonks
Published in Securing Lifelong Retirement Income
WP2010-22 - Payouts in Switzerland: Explaining Developments in Annuitization
Monika Bütler and Stefan Staubli
Published in Securing Lifelong Retirement Income
WP2010-23 - Financial Literacy, Schooling, and Wealth Accumulation
Jere R. Behrman, Olivia S. Mitchell, Cindy Soo, and David Bravo
WP2010-24 - The Outlook for Financial Literacy
Annamaria Lusardi and Olivia S. Mitchell
Published in Financial Literacy
WP2010-25 - Financial Literacy and Planning: Implications for Retirement Well-Being
Annamaria Lusardi and Olivia S. Mitchell
Published in Financial Literacy
WP2010-26 - Pension Plan Distributions: The Importance of Financial Literacy
Robert L. Clark, Melinda S. Morrill, and Steven G. Allen
Published in Financial Literacy
WP2010-27 - Financial Literacy and 401(k) Loans
Stephen P. Utkus and Jean A. Young
Published in Financial Literacy
WP2010-28 - Financial Illiteracy and Stock Market Participation: Evidence from the RAND American Life Panel
Joanne Yoong
Published in Financial Literacy
WP2010-29 - Fees, Framing, and Financial Literacy in the Choice of Pension Manager
Justine Hastings, Olivia S. Mitchell, and Eric Chyn
Published in Financial Literacy
WP2010-30 - Investor Knowledge and Experience with Investment Advisers and Broker-Dealers
Angela A. Hung, Noreen Clancy, and Jeff Dominitz
Published in Financial Literacy
WP2010-31 - Pecuniary Mistakes? Payday Borrowing by Credit Union Members
Susan P. Carter, Paige M. Skiba, Jeremy Tobacman
Published in Financial Literacy
WP2010-32 - Annuities, Financial Literacy and Information Overload
Julie Agnew and Lisa Szykman
Published in Financial Literacy
WP2010-33 - Financial Counseling, Financial Literacy, and Household Decision Making
Sumit Agarwal, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet, and Douglas D. Evanoff
Published in Financial Literacy
WP2010-34 - Time Perception and Retirement Saving: Lessons from Behavioral Decision Research
Gal Zauberman and B. Kyu Kim
Published in Financial Literacy
WP2010-35 - Making Savers Winners: An Overview of Prize-Linked Saving Products
Melissa S. Kearney, Peter Tufano, Jonathan Guryan, and Erik Hurst
Published in Financial Literacy
WP2010-36 - How to Improve Financial Literacy: Some Successful Strategies
Diana Crossan
Published in Financial Literacy
WP2010-37 - Bringing Financial Literacy and Education to Low- and Middle-Income Countries
Robert Holzmann
Published in Financial Literacy
WP2010-38 - Improving Financial Literacy: The Role of Nonprofit Providers
J. Michael Collins
Published in Financial Literacy
WP2010-39 - An Empirical Analysis of 401(k) Loan Defaults
Timothy Lu, Olivia S. Mitchell, and Stephen P. Utkus
WP2010-40 - Framing Effects and Expected Social Security Claiming Behavior
Jeffrey R. Brown, Arie Kapteyn, and Olivia S. Mitchell
WP2010-42 - Low Life Expectancy in the United States: Is the Health Care System at Fault?
Samuel HY Preston and Jessica Y. Ho
WP2010-43 - The Impact of Shrouded Fees: Evidence from a Natural Experiment
Santosh Anagol and Hugh Kim
WP2010-44
- Collective Investments for Pension Saving: Lessons from Singapore’s Central Provident Fund Scheme
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- Can 401(k) Plans Provide Adequate Retirement Resources?
Peter J. Brady
WP2009-01 - Portfolio Choice in Retirement: Health Risk and the Demand for Annuities, Housing, and Risky Assets
Motohiro Yogo
WP2009-02 - What Makes a Better Annuity?
Jason S. Scott, John G. Watson, and Wei-Yin Hu
WP2009-03 - Extending Life Cycle Models of Optimal Portfolio Choice: Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts
Jingjing Chai, Wolfram J. Horneff, Raimond Maurer, and Olivia S. Mitchell
WP2009-04 - Default, Framing and Spillover Effects: The Case of Lifecycle Funds in 401(k) Plans
Olivia S. Mitchell, Gary R. Mottola, Stephen P. Utkus and Takeshi Yamaguchi
WP2009-05 - The Efficiency of Sponsor and Participant Portfolio Choices in 401(k) Plans
Ning Tang, Olivia S. Mitchell, Gary Mottola, and Steve Utkus
WP2009-08 - Financial Literacy among the Young: Evidence and Implications for Consumer Policy
Annamaria Lusardi, Olivia S. Mitchell, and Vilsa Curto
WP2009-09 - Constructing New Retirement Systems: Choosing between Insurance and Investment, Choice and Default
Emily Kessler
WP2009-10 - Labor Market Uncertainty and Pension System Performance
Olivia S. Mitchell and John A. Turner
WP2009-11 - The Evolution of Retirement Risk Management
Robert L. Clark and Olivia S. Mitchell
Published in Reorienting Retirement Risk Management, pp. 1-12
WP2009-12 - Retirement Saving Adequacy and Individual Investment Risk Management Using the Asset/Salary Ratio
P. Brett Hammond and David P. Richardson
Published in Reorienting Retirement Risk Management, pp. 12-36
WP2009-13 - Employer-Provided Retirement Planning Programs
Robert L. Clark, Melinda S. Morrill, and Steven G. Allen
Published in Reorienting Retirement Risk Management, pp. 36-64
WP2009-14 - Impact of the Pension Protection Act on Financial Advice: What Works and What Remains to be Done?
Lynn Pettus and R. Hall Kesmodel, Jr.
Published in Reorienting Retirement Risk Management, pp. 86-105
WP2009-15 - How Does Retirement Planning Software Handle Postretirement Realities?
Anna M. Rappaport and John A. Turner
Published in Reorienting Retirement Risk Management, pp. 65-85
WP2009-16 - The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios
Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
Published in Reorienting Retirement Risk Management, pp. 106-121
WP2009-17 - The Declining Role of Private Defined Benefit Pension Plans: Who is Affected, and How
Craig Copeland and Jack VanDerhei
Published in Reorienting Retirement Risk Management, pp. 122-136
WP2009-18 - Rebuilding Workers’ Retirement Security: A Labor Perspective on Private Pension Reform
Damon Silvers
Published in Reorienting Retirement Risk Management, pp. 137-155
WP2009-19 - Longevity Risk and Annuities in Singapore
Joelle H.Y. Fong, Olivia S. Mitchell, and Benedict S. K. Koh
Published in Reorienting Retirement Risk Management, pp. 156-177
WP2009-20 - Outsourcing Pension Longevity Protection
Igor Balevich
Published in Reorienting Retirement Risk Management, pp. 178-197
WP2009-21 - Comparing Spending Approaches in Retirement
John Ameriks, Michael Hess, and Liqian Ren
Published in Reorienting Retirement Risk Management, pp. 198-216
WP2009-22 - Risk Budgeting for the Canadian Pension Plan Investment Board
Sterling Gunn and Tracy Livingstone
Published in Reorienting Retirement Risk Management, pp. 217-240
WP2009-23 - Can VEBAs Alleviate Retiree Health Care Problems?
Aaron Bernstein
Published in Reorienting Retirement Risk Management, pp. 241-264
WP2009-24 - Financial Literacy and Financial Sophistication Among Older Americans
Annamaria Lusardi, Olivia S. Mitchell, and Vilsa Curto
WP2009-25 - Improving Workers’ Financial Literacy: A Symposium Summary
Robert L. Clark and Melinda S. Morrill
WP2009-26
- Can 401(k) Plans Provide Adequate Retirement Resources?
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- Optimal Life-Cycle Strategies in the Presence of Interest Rate and Inflation Risk
Raimond H. Maurer, Christian Schlag and Michael Z. Stamos
WP2008-01 - The Efficiency of Pension Plan Investment Menus: Investment Choices in Defined Contribution Pension Plans
Ning Tang and Olivia S. Mitchell
WP2008-02 - Footnotes Aren’t Enough: The Impact of Pension Accounting on Stock Values
Julia Coronado, Olivia S. Mitchell, Steven A. Sharpe, and S. Blake Nesbitt
WP2008-03 - The Retirement Decision: Current Influences on the Timing of Retirement among Older Workers
Gaobo Pang, Mark Warshawsky, and Ben Weitzer
WP2008-04 - Optimizing the Equity-Bond-Annuity Portfolio in Retirement: The Impact of Uncertain Health Expenses
Gaobo Pang and Mark Warshawsky
WP2008-05 - Asset Allocation and Location over the Life Cycle with Survival-Contingent Payouts
Wolfram J. Horneff, Raimond H. Maurer, Olivia S. Mitchell, and Michael Z. Stamos
WP2008-06 - Managing Public Investment Funds: Best Practices and New Challenges
Olivia S. Mitchell, John Piggott, and Cagri Kumru
WP2008-07 - The Future of Public Employee Retirement Systems
Olivia S. Mitchell
Published in The Future of Public Employee Retirement Systems
WP2008-08 - Reforming the German Civil Servant Pension Plan
Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
Published in The Future of Public Employee Retirement Systems, pp. 115-142
WP2008-09 - Managing Contribution and Capital Market Risk in a Funded Public Defined Benefit Plan: Impact of CVaR Cost Constraints
Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
WP2008-10 - Reforming Social Security with Progressive Personal Accounts
John Geanakoplos and Stephen P. Zeldes
WP2008-11 - The New Intersection on the Road to Retirement: Public Pensions, Economics, Perceptions, Politics, and Interest Groups
Beth Almeida, Kelly Kenneally, and David Madland
Published in The Future of Public Employee Retirement Systems, pp. 294-326
WP2008-12 - Pension Fund Activism: The Double-Edged Sword
Brad M. Barber
Published in The Future of Public Employee Retirement Systems, pp. 271-293
WP2008-13 - Redefining Traditional Plans: Variations and Developments in Public Employee Retirement Plan Design
Keith Brainard
Published in The Future of Public Employee Retirement Systems, pp. 187-205
WP2008-14 - Reforms to an Individual Account Pension System and their Effects on Work and Contribution Decisions: The Case of Chile
Viviana Vélez-Grajales
WP2008-15 - The Evolution of Public Sector Pension Plans in the United States
Robert L. Clark, Lee A. Craig, Neveen Ahmed
Published in The Future of Public Employee Retirement Systems, pp. 239-270
WP2008-16 - Defined Contribution Pension Plans in the Public Sector: A Benchmark Analysis
Roderick B. Crane, Michael Heller and Paul J. Yakoboski
Published in The Future of Public Employee Retirement Systems, pp. 206-238
WP2008-17 - Administrative Costs of State Defined Benefit and Defined Contribution Systems
Edwin Hustead
Published in The Future of Public Employee Retirement Systems, pp. 97-104
WP2008-18 - Thinking About Funding Federal Retirement Plans
Toni Hustead
Published in The Future of Public Employee Retirement Systems, pp. 105-114
WP2008-19 - The Case for Marking Public Plan Liabilities to Market
Jeremy Gold and Gordon Latter
Published in The Future of Public Employee Retirement Systems, pp. 29-57
WP2008-20 - Benefit Cost Comparisons Between State and Local Governments and Private Industry Employers
Ken McDonnell
Published in The Future of Public Employee Retirement Systems, pp. 85-96
WP2008-21 - Estimating State and Local Government Pension and Retiree Health Care Liabilities
Stephen T. McElhaney
Published in The Future of Public Employee Retirement Systems, pp. 19-28
WP2008-22 - The Outlook for Canada’s Public Sector Employee Pensions
Silvana Pozzebon
Published in The Future of Public Employee Retirement Systems, pp. 143-163
WP2008-23 - Unifying Pension Schemes in Japan: Toward a Single Scheme for Both Civil Servants and Private Employees
Junichi Sakamoto
Published in The Future of Public Employee Retirement Systems, pp. 164-186
WP2008-24 - Between Scylla and Charybdis: Improving the Cost Effectiveness of Public Pension Retirement Plans
M. Barton Waring
Published in The Future of Public Employee Retirement Systems, pp. 58-74
WP2008-25 - Public Pensions and State and Local Budgets: Can Contribution Rate Cyclicality Be Better Managed?
- Optimal Life-Cycle Strategies in the Presence of Interest Rate and Inflation Risk