TY  - JOUR
AU  - Bernheim,B. Douglas
AU  - Garrett,Daniel M.
TI  - The Determinants and Consequences of Financial Education in the Workplace: Evidence from a Survey of Households
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5667
PY  - 1996
Y2  - July 1996
UR  - http://www.nber.org/papers/w5667
L1  - http://www.nber.org/papers/w5667.pdf
N1  - Author contact info:
B. Douglas Bernheim
Department of Economics
Stanford University
Stanford, CA 94305-6072
Tel: 650/725-8732
Fax: 650/725-5702
E-Mail: bernheim@stanford.edu
M2  - featured in NBER digest on 1997-03-01
AB  - In recent years, the United States has witnessed significant growth in programs of financial and retirement education in the workplace. This phenomenon provides an opportunity to assess the effects of targeted education programs on financial choices. This paper uses a novel household survey to develop econometric evidence on the efficacy of employer-based financial education. While our primary focus concerns the effects of these programs on saving (both in general and for the purposes of retirement), we also examine a number of collateral issues.  These include the circumstances under which employers offer, and employees participate in, financial education programs, and the effects of these programs on sources of information and advice concerning retirement planning.  Our findings indicate that employer-based retirement education strongly influences household financial behavior.
ER  -