2010 chapter
Employer-Provided Retirement Planning Programs
In Reorienting Retirement Risk Management.
Contributors: R. Clark, M. Morrill & S. Allen*
open access via pensionresearchcouncil.wharton.upenn.edu (repository)
UN Sustainable Development Goal Categories
4. Quality Education
(OpenAlex)
Source: ORCID
Added: August 30, 2019
As older workers approach the end of their working career, they face a series of important decisions that will determine their economic wellbeing during their remaining lifetime. They must decide when to retire, when to start Social Security and company pensions, whether to annuitize 401(k) balances and/or take lump sums from defined benefit plans. Lack of knowledge or insufficient financial literacy may lead to decisions that eventually will be regretted. This paper examines employer provided financial education and pre-retirement planning programs and assesses their effectiveness in increasing knowledge and altering retirement behavior. This research is funded by a grant from the FINRA Investor Education Foundation and has been conducted in close collaboration with the employer partners who sponsor the pre-retirement benefit programs examined in this research.