Chapter

Retirement Security in a DC World: Using Behavioral Finance to Bridge the Expertise Gap

Gregory Stein and Jason Scott

in Pension Design and Structure

Published in print July 2004 | ISBN: 9780199273393
Published online January 2005 | e-ISBN: 9780191601675 | DOI: http://dx.doi.org/10.1093/0199273391.003.0011
Retirement Security in a DC World: Using Behavioral Finance to Bridge the Expertise Gap

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The advent of defined contribution plans has created the need to educate employees about these plans for them to make informed investment decisions. The likelihood that employees will utilize an employer-provided online advisory service is examined. Employees who received an email on the availability of the advisory service are more likely to use it than those receiving a hard copy version of the mail. Lack of time is the main reason why participants did not avail of the service.

Keywords: online advisory service; financial information; defined contribution plans; employee education; investment

Chapter.  5158 words. 

Subjects: Financial Markets

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