2010
State Wage-Payment Laws, the Pension Protection Act of 2006, and 401(k) Saving Behavior
I show that state wage-payment laws, which forbid deductions from wages and salaries without the written permission of the employee, constituted a binding constraint on firms’ choices to adopt automatic enrollment in 401(k) plans prior to 2006. Since the passage…
Incorporating Heterogeneity into Default Rules for Retirement Plan Selection
This paper examines the effect of incorporating individual-level heterogeneity into default rules for retirement plan selection. We use data from a large employer that transitioned from a defined benefit (DB) plan to a defined contribution (DC) plan, offering existing employees…