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The Effect of the Employer Match and Defaults on Federal Workers’ Savings Behavior in the Thrift Savings Plan: Working Paper 2019-06

Justin Falk and Nadia Karamcheva

No 55447, Working Papers from Congressional Budget Office

Abstract: Policymakers are weighing options that would change the retirement system for federal workers by shifting more of their deferred compensation from the defined benefit plan toward the defined contribution plan, called the Thrift Savings Plan (TSP). We use administrative longitudinal data on federal workers’ demographics, compensation, and TSP behavior to estimate the effects of an employer match and plan default options on workers’ TSP savings behavior and the cost of employer contributions. We rely primarily on two sources of exogenous variation stemming from policy changes

JEL-codes: E21 E27 G41 J26 J32 (search for similar items in EconPapers)
Date: 2019-07-16
New Economics Papers: this item is included in nep-age, nep-lma and nep-mac
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