Chapter

Implications of Pension Plan Features, Information, and Social Interactions for Retirement Saving Decisions

Esther Duflo and Emmanuel Saez

in Pension Design and Structure

Published in print July 2004 | ISBN: 9780199273393
Published online January 2005 | e-ISBN: 9780191601675 | DOI: http://dx.doi.org/10.1093/0199273391.003.0008
Implications of Pension Plan Features, Information, and Social Interactions for Retirement Saving Decisions

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This chapter examines the factors influencing enrolment in 401(k) retirement plans. In one study, a random sample of employees was asked to attend a benefits information fair organised by the employer. It was found that employees’ decisions to participate in the plan were influenced by their peers rather than the information provided by the fair.

Keywords: pension plans; retirement savings; decision making; 401(k) plans; social interactions

Chapter.  6927 words. 

Subjects: Financial Markets

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