401(k) Participation, lump-sum distributions, and retirement saving.

The striking shift toward 401(k)-type pension arrangements has led to concern that many households will have inadequate retirement saving. This could be the case if eligible individuals fail to contribute on a regular basis as well as for eligible individuals with no other pension plans or forms of retirement saving. Since previous studies of 401(k) participation have not been able to measure its determinants, this report examines the determinants of 401(k) participation for a nationally representative sample of pre-retirement aged households. The report also used detailed retrospective information on employment histories, pensions, demographics, and wealth in the Health and Retirement Study (HRS) to examine the disposition of pension assets upon pre -retirement job change.