It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans

We thank Pierluigi Balduzzi, Keith Brown, Lauren Cohen, Van Harlow, Frank de Jong, Olivia Mitchell, Jonathan Reuter, Paul Schultz, Laura Starks, Steve Utkus, Marno Verbeek, Scott Yonker, and seminar participants at the American Economic Association Meeting in San Diego, DePaul University, Indiana University, INSEAD, the IU-Notre Dame-Purdue Summer Symposium, the NETSPAR spring workshop, the Nova Finance Conference on Pensions and Retirement, and the Second MSUFCU Conference on Financial Institutions and Investments at Michigan State University for helpful comments, and NETSPAR, Indiana University, and the University of Texas at Austin for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.