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

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

Olivia Mitchell: “La persistente falta de conocimiento financiero ha contribuido al escepticismo de muchos chilenos sobre el sistema de pensiones”

Poor financial literacy is a major reason why people haven’t saved or invested more, and also why they have withdrawn so much from their pensions, Wharton Prof. Olivia S. Mitchell explains, discussing the struggles of the Chilean retirement system. Via La Tercera.Read More

Financial Well-Being of Underrepresented Women

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 WomenRead More