Nudges influence behavior by changing the environment in which decisions are made,
without restricting the menu of options and without altering financial incentives. This paper …

Using 41 million observations on savings for the population of Denmark, we show that the
effects of retirement savings policies on wealth accumulation depend on whether they …

Defined contribution (DC) pension plans are an increasingly important means of financing
retirement consumption. Because individuals often have substantial discretion over how …

This chapter provides an overview of household finance. The first part summarizes key facts
regarding household financial behavior, emphasizing empirical regularities that are …

We analyze a randomized experiment in which 14,000 tax filers in H&R Block offices in St.
Louis received matches of zero, 20 percent, or 50 percent of IRA contributions. Take-up …

We report on an experiment examining why default options impact behavior. By randomly
assigning employees to different varieties of a salary-linked savings account, we find that …

We assess the impact on savings behavior of several different 401 (k) plan features,
including automatic enrollment, automatic cash distributions, employer matching provisions …

Pension reforms in many countries have resulted in more choice and risk to individuals,
decreasing the dependability on State public pensions. However, it is not clear how …

We assess the impact of 401 (k) plan design on four different 401 (k) savings outcomes:
participation in the 401 (k) plan, the distribution of employee contribution rates, asset …

Records of 793,794 employees eligible to participate in 647 defined contribution pension
plans are studied. About 71% of them choose to participate in the plans, and of the …