IDEAS home Printed from https://ideas.repec.org/a/cup/jpenef/v22y2023i3p331-351_4.html
   My bibliography  Save this article

Less is not more: 401(k) plan information and retirement planning choices

Author

Listed:
  • Cardella, Eric
  • Kalenkoski, Charlene M.
  • Parent, Michael

Abstract

This paper presents the results of a choice experiment that is designed to examine whether changing how plan information is presented affects planned retirement-savings behavior. The main hypothesis is that providing plan information in a more concise format with helpful recommendations, rather than providing lengthy and detailed information, will alter retirement-planning choices. The specific choices examined include: whether to enroll, how much to contribute, and how to structure (broadly) the asset allocation. The choice experiment is conducted on three different samples: (i) a Qualtrics panel of new employees, (ii) a Qualtrics panel of job seekers, and (iii) a sample of business-school students. Our results suggest that, controlling for demographic and other factors, our main hypothesis was not supported by the data in any of the samples. Thus, the data cast some doubt on the notion that simplifying and condensing the retirement-plan information presented to employees will result in vastly different retirement-planning choices.

Suggested Citation

  • Cardella, Eric & Kalenkoski, Charlene M. & Parent, Michael, 2023. "Less is not more: 401(k) plan information and retirement planning choices," Journal of Pension Economics and Finance, Cambridge University Press, vol. 22(3), pages 331-351, July.
    • Handle: RePEc:cup:jpenef:v:22:y:2023:i:3:p:331-351_4
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1474747221000445/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jpenef:v:22:y:2023:i:3:p:331-351_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/pef .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.