Understanding Retirement Plan Default Behavior: The Case of OregonSaves

Published: 2019
Project ID: UM19-03


Insuring retirement security is an important challenge for our aging society. Accordingly, policymakers are interested in a range of policies to help individuals save more for retirement on their own. One reform currently being tested is for specific states to provide an automatic retirement savings program for private sector workers lacking access to workplace retirement plans in those states. It is of critical importance to learn whether such retirement plans intended for the non-pensioned will actually encourage savings, and in turn lead to less reliance on Social Security and social transfer programs. This project will investigate the impact of the OregonSaves state-based automatic enrollment plan on individual wellbeing and the potential consequences for social insurance systems.