Chapter

Chapter Chapter <b>Educating Pension Plan Participants</b>

William J. Arnone

in Reinventing the Retirement Paradigm

Published in print August 2005 | ISBN: 9780199284603
Published online February 2006 | e-ISBN: 9780191603013 | DOI: http://dx.doi.org/10.1093/0199284601.003.0009
Chapter  Chapter   Educating Pension Plan Participants

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This chapter argues that firms and plan sponsors have an obligation to provide financial education in conjunction with their retirement plans. A practical definition of employer-sponsored participant education is a program that helps employees develop skills to make informed decisions and take action to improve their financial well-being in retirement. This definition incorporates the following: helping individuals based on their status as employees of an organization; providing recipients with skill development, which may include either new competencies or the enhancement of existing competencies; enabling participants to make decisions about issues; providing a basis of accurate, unbiased information for such decisions; taking an action-oriented stance and thereby attempting to affect behaviour; and seeking the long-term result of improved financial well-being.

Keywords: retirement plans; employer-sponsored education; financial education; plan participants; investment behaviour

Chapter.  3862 words. 

Subjects: Financial Markets

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