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  • 05 Feb 2015
  • Working Paper Summaries

Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions

Keywords: by John Beshears, James J. Choi, David Laibson & Brigitte C. Madrian
  • 22 Aug 2011
  • News

US must learn from others' pension plans

  • June 2013 (Revised August 2013)
  • Background Note

Note on Pension Guarantee Funds

By: Robert C. Pozen and Patricia Bissett Higgins
The United States and the United Kingdom both had quasi-government agencies that provided back-up insurance for individuals participating in defined benefit ("DB") pension plans. This note compares and contrasts the United Kingdom's Pension Protection Fund ("PPF") with... View Details
Keywords: Pensions; Pension Guarantee Funds; Pension Protection Fund; Pension Benefit Guaranty Corporation; Employee Retirement Income Security Act; PBGC; ERISA; MAP-21; Legislation; Insurance; Saving; Retirement; Labor; Labor and Management Relations; Employees; Insurance Industry; United States; United Kingdom
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  • April 2011
  • Article

Behavioral Economics Perspectives on Public Sector Pension Plans

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted towards defined... View Details
Keywords: Equality and Inequality; Public Sector; Retirement; Private Sector; Compensation and Benefits; United States
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  • 2024
  • Working Paper

Does Pension Automatic Enrollment Increase Debt? Evidence from a Large-Scale Natural Experiment

By: John Beshears, Matthew Blakstad, James J. Choi, Christopher Firth, John Gathergood, David Laibson, Richard Notley, Jesal D. Sheth, Will Sandbrook and Neil Stewart
Does automatic enrollment into retirement saving increase household debt? We study the randomized roll-out of automatic enrollment pensions to ~160,000 employers in the United Kingdom with 2-29 employees. We find that the additional savings generated through automatic... View Details
Keywords: Retirement; Saving; Personal Finance; Borrowing and Debt; Credit; Compensation and Benefits
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  • Article

Does Front-Loading Taxation Increase Savings?: Evidence from Roth 401(k) Introductions

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
Can governments increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions are not tax-deductible in the contribution year, but withdrawals in retirement are untaxed. The more common before-tax 401(k) contribution is... View Details
Keywords: Saving; Retirement; Taxation
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  • 13 Jan 2015
  • First Look

First Look: January 13

increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions are not tax-deductible in the contribution year, but withdrawals in View Details
Keywords: Sean Silverthorne
  • 2008
  • Chapter

Life-Cycle Funds

By: Luis M. Viceira
The U.S. retirement system has experienced a substantial transformation in recent years. It has evolved from a system in which employees relied mainly on Social Security and professionally managed defined benefit (DB) pension plans sponsored by their employers to... View Details
Keywords: Retirement; Personal Finance; Investment Funds; Compensation and Benefits; United States
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  • 23 Jun 2008
  • Working Paper Summaries

Using Financial Innovation to Support Savers: From Coercion to Excitement

Keywords: by Peter Tufano & Daniel Schneider; Financial Services
  • 29 Mar 2022
  • News

Private Equity’s Opaque Costs Mystify the Pensions That Pay Them

  • 15 Feb 2016
  • Research & Ideas

Want Your Employees to Plan Better for Retirement? Don't Do This

great success with this model by showing customers how much energy they were using compared to others living in their area. This quickly turned energy saving into a kind of friendly competition and drove great results. Sharing View Details
Keywords: Re: John Beshears; Financial Services

    "One Way to Help Employees Build Emergency Savings" Harvard Business Review (May 2024)

    Intentional cooperation between two organizations — BlackRock, a major asset management firm, and national non-profit, Commonwealth — created the conditions for the nation’s largest payroll processor, multiple U.S. employers, retirement record keepers, and others... View Details
    • 2013
    • Working Paper

    Asset Accumulation and Labor Force Participation of Disability Insurance Applicants

    By: Pian Shu
    Using panel data from the RAND Health and Retirement Study, I show that rejected applicants for Social Security Disability Insurance (SSDI) possess significantly more assets immediately prior to their application and exhibit lower labor force attachment than accepted... View Details
    Keywords: Disability Insurance; Asset Accumulation; Labor Force Participation; Assets; Behavior; Employment; Insurance; Insurance Industry; United States
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    • 17 Oct 2014
    • Research & Ideas

    New Treasury Rules Help Long-Retirement Planning

    recommended that workers use all their retirement savings to buy life annuities in order to avoid outliving their savings. Nevertheless, few workers want to put their whole View Details
    Keywords: by Robert Pozen; Financial Services
    • September 2020
    • Article

    Relaxing Household Liquidity Constraints Through Social Security

    By: Sylvain Catherine, Max Miller and Natasha Sarin
    More than a quarter of working-age households in the United States do not have sufficient savings to cover their expenditures after a month of unemployment. Recent proposals suggest giving workers early access to a small portion of their future Social Security benefits... View Details
    Keywords: COVID-19 Pandemic; Personal Finance; Employment; Welfare; Insurance; Government Legislation
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    • 2009
    • Working Paper

    Can a Continuously-Liquidating Tontine (or Mutual Inheritance Fund) Succeed where Immediate Annuities Have Floundered?

    By: Julio J. Rotemberg
    A new instrument (the Mutual Inheritance Fund or MIF) is proposed whose purpose is to help people carry their savings forward from the moment they retire into their old age. Like annuities, this instrument requires an up-front payment before people receive any benefits... View Details
    Keywords: Age; Annuities; Investment Return; Investment Funds; Saving; Retirement
    Related

      John Beshears

      John Beshears is the Albert J. Weatherhead Jr. Professor of Business Administration in the Negotiation, Organizations & Markets Unit, teaching the second-year MBA course "Negotiation." He is also a research associate at the National Bureau of Economic Research.... View Details

      • 14 Jan 2009
      • Working Paper Summaries

      Smart Money: The Effect of Education, Cognitive Ability, and Financial Literacy on Financial Market Participation

      Keywords: by Shawn Cole & Gauri Kartini Shastry; Education; Financial Services
      • 15 Apr 2025
      • HBS Seminar

      Hal Hershfield, University of California, Los Angeles

      • 31 Jan 2012
      • First Look

      First Look: Jan. 31

      investment professionals. Asset Allocation by Institutional Investors after the Recent Financial Crisis Authors:Robert C. Pozen, Betsy Palmer, and Natalie Shapiro Publication:In Growing Old: Paying for Retirement and Institutional Money... View Details
      Keywords: Sean Silverthorne & Carmen Nobel