Do Financial Literacy and Mistrust Affect 401(k) Participation?
Author InfoJulie R. Agnew Stephen P. Utkus Jean A. Young Abstract The private pension landscape has changed dramatically over the past quarter century, with a decisive shift away from traditional defined benefit plans toward defined contribution plans, primarily 401(k)s. Under the typical 401(k), individuals are responsible for making their own retirement saving decisions. The first, and most important, decision is whether to participate in the plan. As many as one-third of participants choose not to join, sparking concern about their retirement security… Download InfoTo download: If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
