TY - RPRT T1 - Are DC Plans Tools for Learning? Pension Design, Financial Education, and Portfolio Choice for Older Workers Y1 - 2005 A1 - Seligman, Jason S. A1 - Bose, Rana KW - Net Worth and Assets KW - Pensions KW - Retirement Planning and Satisfaction AB - This work considers the potential for Defined Contribution (DC) pension plans to educate and affect better overall asset management though participation. We engage six waves of the Health and Retirement Survey to investigate whether household exposure to active management or participation in plan sponsored financial education impact portfolio allocations and wealth. We consider outcomes both within and outside of the worker s DC plan, allow for simultaneous allocation decisions via multivariate probit specifications, and construct a synthetic counterfactual via propensity score matching to test our results. We find repeated evidence that both of the plan features we test improve asset allocations and financial outcomes. PB - University of Georgia U4 - Pension Plans/RETIREMENT/Financial Management/Portfolio Choice ER -