Are 401(k) Saving Rates Changing? Cohort/Period Evidence from the Health and Retirement Study

TitleAre 401(k) Saving Rates Changing? Cohort/Period Evidence from the Health and Retirement Study
Publication TypeReport
Year of Publication2007
AuthorsDushi, I, Honig, M
InstitutionThe University of Michigan, Michigan Retirement Research Center
Call Numbernewpubs20080822_wp160
KeywordsPensions, Retirement Planning and Satisfaction
Abstract

This research examines the determinants of eligibility and participation in 401(k) plans using two cross-sections of data from the Health and Retirement Study. Our sample consists of workers ages 51-56 representing two cohorts: the original HRS cohort born 1931-41, first interviewed in 1992, and the Early Baby Boomer (EBB) cohort born 1948-53, interviewed in 2004. Participation in 401(k) pensions in the EBB cohort is nearly 50 percent greater than that of the earlier cohort. This substantial growth in 401(k) plan participation over a relatively brief period may reflect intrinsic differences in tastes between the two cohorts, changes over this period in the external environment regarding retirement saving, or the joint effects of both influences.

URLhttp://www.mrrc.isr.umich.edu/publications/papers
Endnote Keywords

401(k) participation and balances/retirement planning

Endnote ID

19270

Citation Key5696