Workers' knowledge of their pension coverage: a reevaluation
Because employer-provided pensions represent an important source of income during retirement, accurate information on pension coverage would seem to be crucial for making sound decisions on retirement timing, saving, and portfolio allocation. However, previous research suggests that workers' knowledge of their pension provisions is often incomplete or incorrect. This paper reexamines workers' knowledge of their pension coverage, using matched employer-employee data from the Federal Reserve Board's Survey of Consumer Finances. We find that, while most workers in our sample accurately reported the general features of their pension coverage, their knowledge of the detailed features was often fairly limited.
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| Length: | |
| Date of creation: | 1999 |
| Handle: | RePEc:fip:fedgfe:1999-05 |
| Contact details of provider: | Postal: 20th Street and Constitution Avenue, NW, Washington, DC 20551 Web page: http://www.federalreserve.gov/ More information through EDIRC
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| Order Information: | Web: http://www.federalreserve.gov/pubs/feds/fedsorder.html |
References listed on IDEAS
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- Mitchell, Olivia S, 1988.
"Worker Knowledge of Pension Provisions,"
Journal of Labor Economics,
University of Chicago Press, vol. 6(1), pages 21-39, January.
- Olivia S. Mitchell, 1987. "Worker Knowledge of Pension Provisions," NBER Working Papers 2414, National Bureau of Economic Research, Inc.
- B. Douglas Bernheim, 1987. "Social Security Benefits: An Empirical Study of Expectations and Realizations," NBER Working Papers 2257, National Bureau of Economic Research, Inc.
- Olivia S. Mitchell & Emily S. Andrews, 1981. "Scale Economies in Private Multi-Employer Pension Systems," ILR Review, Cornell University, ILR School, vol. 34(4), pages 522-530, July. Full references (including those not matched with items on IDEAS)