HOW WORKERS USE 401(k) PLANS: THE PARTICIPATION, CONTRIBUTION, AND WITHDRAWAL DECISIONS

Autor:	Anthony P. Rodrigues, William F. Bassett, Michael J. Fleming
Rok vydání:	1998
Předmět:	Labour economics Matching (statistics) Economics and Econometrics Pension plan business.industry Distribution (economics) Job tenure Employee participation Retirement Investments Cafeteria benefit plans Accounting Economics Demographic economics Stable value fund Business health care economics and organizations Finance
Zdroj:	National Tax Journal. 51:263-289
ISSN:	1944-7477 0028-0283
DOI:	10.1086/ntj41789326
Popis:	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. Employee participation rises with income, age, job tenure, and education. While participation also rises if the employer matches contributions, 401(k) participation does not grow with the rate of matching. When pension plan assets are withdrawn in lump-sum distributions before retirement, just 28 percent of distribution recipients (representing 56 percent of distribution assets) roll over the withdrawn funds into tax-qualified savings plans. Our findings suggest that many workers, particularly those with low incomes, do not use 401(k) plans to save for retirement.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d26a5426050e2ca2e9990a910739d231 https://doi.org/10.1086/ntj41789326 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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