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How hard should we push the poor to save for retirement?

Author

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  • Andrew G. Biggs

    (American Enterprise Institute)

Abstract

More than half of U.S. states are working to establish programs what would automatically enrollment in Individual Retirement Accounts (IRAs) workers who are not offered a retirement plan by their employer. But the designers of state-run auto-IRA plans fail to consider three questions: Do the poor need to save more for retirement? Will state-run auto-IRA plans increase net household savings? And, after accounting for interactions with means-tested government transfer programs, will state-run auto-IRA plans make the poor better off? The answer to all three questions may be “no.â€Â

Suggested Citation

  • Andrew G. Biggs, 2017. "How hard should we push the poor to save for retirement?," AEI Economics Working Papers 935536, American Enterprise Institute.
    • Handle: RePEc:aei:rpaper:935536
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    File URL: http://www.aei.org/publication/how-hard-should-we-push-the-poor-to-save-for-retirement
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    Cited by:

    1. John Chalmers & Olivia S. Mitchell & Jonathan Reuter & Mingli Zhong, 2021. "Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves," NBER Working Papers 28469, National Bureau of Economic Research, Inc.
    2. Robert L. Clark & Robert G. Hammond & Melinda Sandler Morrill & Christelle Khalaf, 2017. "Nudging Retirement Savings: A Field Experiment on Supplemental Plans," NBER Working Papers 23679, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Retirement; savings; IRA; What to Do: Policy Recommendations on Entitlement Programs;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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