Does 401(k) Eligibility Increase Saving? Evidence from Propensity Score Subclassification

@article{Benjamin2003Does4E,
  title={Does 401(k) Eligibility Increase Saving? Evidence from Propensity Score Subclassification},
  author={Daniel J. Benjamin},
  journal={Journal of Public Economics},
  year={2003},
  volume={87},
  pages={1259-1290}
}
  • D. Benjamin
  • Published 1 May 2003
  • Economics
  • Journal of Public Economics
View via Publisher
153 Citations
Highly Influential Citations
19
Background Citations
55
Methods Citations
25
Results Citations
1

Tables from this paper

153 Citations

Citation Type

Citation Type

How Do 401(k)s Affect Saving? Evidence from Changes in 401(k) Eligibility
This paper investigates the effect of 401(k) eligibility on saving. To address the possibility that eligibility correlates across individuals with their unobserved tastes for saving, I examine a…
401(K)S and Household Saving: New Evidence from the Survey of Consumer Finances
Although households have invested billions in 401(k) accounts, these balances may not be new saving if workers invest money that they would have saved in the program's absence. In this paper, I…
The Effects of 401(K) Participation on the Wealth Distribution: An Instrumental Quantile Regression Analysis
We use instrumental quantile regression approach to examine the effects of 401(k) plans on wealth using data from the Survey of Income and Program Participation. Using 401(k) eligibility as an…
Improving Opportunities and Incentives for Saving by Middle- and Low-Income Households
Many middle- and low-income Americans retire without having accumulated sufficient savings to enjoy a comfortable retirement. Low retirement saving is not primarily due to a lack of eligibility for…
Borrowing from the Future: 401(k) Plan Loans and Loan Defaults
Most active 401(k) participants have the option of borrowing from their retirement accounts, and nearly 40 percent do so over a five-year period. We show that employers' loan rules have a strong…
BORROWING FROM THE FUTURE? 401(K) PLAN LOANS AND LOAN DEFAULTS
TLDR
It is estimated that $5 billion per year in defaulted plan loans generate federal revenues of $1 billion annually, more than previously thought.
Learning by doing: Active employer sponsored retirement savings plan participation and household wealth accumulation
Who Benefits from Asset-Building Tax Subsidies?
Tax subsidies for asset building totaled $384 billion in 2013, with the vast majority going toward subsidizing homeownership and retirement saving. This factsheet summarizes distributional estimates…
Active vs. Passive Decisions and Crowdout in Retirement Savings Accounts: Evidence from Denmark
Using 41 million observations on savings for the population of Denmark, we show that the impacts of retirement savings policies on wealth accumulation depend on whether they change savings rates by…
Effects of After-Tax Pension and Social Security Benefits on Household Wealth: Evidence from a Sample of Retirees
We provide the first estimates of how after-tax defined benefit plans and social security affect household wealth. The analysis employs a sample of elderly households with detailed information on…
...
...

References

SHOWING 1-10 OF 36 REFERENCES
401(K)S and Household Saving: New Evidence from the Survey of Consumer Finances
Although households have invested billions in 401(k) accounts, these balances may not be new saving if workers invest money that they would have saved in the program's absence. In this paper, I…
Have 401(K)S Raised Household Saving? Evidence from the Health and Retirement Study
401(k)-type pension arrangements are the most popular tax subsidy to household saving in the U.S. This study uses self- and firm-reported pension information, Social Security, and household wealth…
HOW WORKERS USE 401(k) PLANS: THE PARTICIPATION, CONTRIBUTION, AND WITHDRAWAL DECISIONS
This paper examines how workers use 401 (k) plans by examining their participation, contribution, and withdrawal decisions. Sixty-five percent of eligible workers participate in 401 (k) plans.…
Do 401(K) Contributions Crowd Out Other Persoanl Saving?
Did 401(K) Plans Replace Other Employer Provided Pensions?
This paper reports the findings from a new survey of firms that provide 401(k) plans for their employees. Our results suggest that few 401(k) plans replaced pre-existing defined benefit pension…
The Effects of Tax-Based Saving Incentives on Saving and Wealth
This paper evaluates research examining the effects of tax-based saving incentives on private and national saving. Several" factors make this an unusually difficult problem. First, households that…
Implications of Rising Personal Retirement Saving
Retirement saving accounts, particularly employer-provided 401(k) plans rapidly in the last decade. More than forty percent of workers are currently eligible for these" plans, and over seventy…
Are 401(K) Plans Replacing Other Employer-Provided Pensions? Evidence from Panel Data
This paper examines whether sponsors of traditional defined benefit (DB) plans are replacing them with 401(k) or other defined contribution (DC) plans. I compare pension plan offerings by sponsors of…
Advances in the Economics of Aging
This volume presents innovative research on issues of importance to the well-being of older persons: labor market behavior, health care, housing and living arrangements, and saving and wealth.…
Reducing Bias in Observational Studies Using Subclassification on the Propensity Score
Abstract The propensity score is the conditional probability of assignment to a particular treatment given a vector of observed covariates. Previous theoretical arguments have shown that…
...
...