Golden Years or Financial Fears? Decision Making After Retirement Seminars

Steven Allen, Robert L. Clark, Jennifer Maki and Melinda Morrill

No 19231, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Many organizations provide retirement planning seminars to their employees as a benefit to help them make better informed retirement decisions. This study examines the participants in 85 seminars conducted by five companies in 2008 and 2009 to determine how much learning takes place and whether employees adjust retirement plans. Using surveys conducted before and after the seminars, we find that financial literacy and knowledge of retirement program parameters are significantly higher after the seminar. Employees with the largest increases in knowledge were most likely to change their planned retirement age and planned age of claiming Social Security benefits.

JEL-codes: J14 J26 J32 (search for similar items in EconPapers)
Date: 2013-07
New Economics Papers: this item is included in nep-age and nep-dem
Note: AG LS
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Citations: View citations in EconPapers (2)

Published as Steven G. Allen, Robert L. Clark, Jen Maki and Melinda Sandler Morrill The Journal of Retirement Winter 2016, 3 (3) 96-115; DOI: https://doi.org/10.3905/jor.2016.3.3.096

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