NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Emma Hanson

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NBER Working Papers and Publications

July 2015Supplemental Plan Offerings and Retirement Saving Choices: An Analysis of North Carolina School Districts
with Robert L. Clark, Melinda Sandler Morrill, Aditi Pathak: w21382
Unlike private sector employers, public school districts generally offer more than one type of supplemental retirement savings plan and allow multiple vendors to offer products. Using individual-level payroll data from over half of the public school districts in North Carolina coupled with data from an employer survey, this study examines the impact of inter-district differences in supplemental plan administration on participation in these savings vehicles. We find wide variation in total participation rates and in 403(b) plan participation rates in particular, even among this population of public-sector workers with the same defined benefit pension plan, health plan, and retiree health coverage. Individual and district characteristics explain some, but not all, of the variation observed.

Published:

Lessons for Public Pensions from Utah’s Move to Pension Choice
with Robert L. Clark, Olivia S. Mitchell: w21385
We explore what happened when the state of Utah moved away from its traditional defined benefit pension. In its place, it offered new hires a choice between a conventional defined contribution plan and a hybrid plan option, where the latter has both a guaranteed benefit component and a defined contribution plan where employees bear investment risk. We show that around 60 percent of new hires failed to make any active choice and, as a result, were automatically defaulted into the hybrid plan. Slightly more than half of those who made an active choice elected the hybrid plan. Post-reform, employees who failed to actively elect a primary retirement plan were also far less likely to enroll in a supplemental retirement account, compared to new hires who actively selected a plan. We also find th...

Published: ROBERT L. CLARK & EMMA HANSON & OLIVIA S. MITCHELL, 2016. "Lessons for public pensions from Utah's move to pension choice," Journal of Pension Economics and Finance, vol 15(03), pages 285-310. citation courtesy of

April 2015Lessons for Public Pensions from Utah's Move to Pension Choice
with Robert L. Clark, Olivia S. Mitchell
in The Impact of Reforms of State Retirement Plans, Robert L. Clark and Joseph P. Newhouse, organizers
Supplemental Plan Offerings and Retirement Saving Choices: An Analysis of North Carolina School Districts
with Robert L. Clark, Melinda S. Morrill, Aditi Pathak
in The Impact of Reforms of State Retirement Plans, Robert L. Clark and Joseph P. Newhouse, organizers
 
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