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Pension Design and Structure – New Lessons from Behavioral Finance - Oxford Scholarship Online
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Pension Design and Structure: New Lessons from Behavioral Finance

Olivia S. Mitchell and Stephen P. Utkus


This book explores how behaviour affects individual decisions on retirement planning. It seeks to provide plan sponsors, retirement service providers, and policymakers with new insights on designing retirement plans, to encourage more savings and better preparation for retirement. The book is divided into four parts. Part I presents studies on retirement planning decisionmaking. Part II deals with retirement plan design. Part III examines the impact of retirement education. Part IV studies the implications of retirement payouts.

Keywords: behavioural research, retirement plans, retirement system, decision-making, investments, behavioural economics, finance research, plan design, savings

Bibliographic Information

Print publication date: 2004 Print ISBN-13: 9780199273393
Published to Oxford Scholarship Online: January 2005 DOI:10.1093/0199273391.001.0001


Affiliations are at time of print publication.

Olivia S. Mitchell, editor
International Foundation of Employee Benefit Plans Professor of Insurance and Risk Management, and Executive Director of the Pension Research Council at the Wharton School of the University of Pennsylvania
Author Webpage

Stephen P. Utkus, editor
Director of the Vanguard Center for Retirement Research, The Vanguard Group

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Part I Research on Decisionmaking under Uncertainty

Part II Implications for Retirement Plan Design

Chapter 6 “Money Attitudes” and Retirement Plan Design: One Size Does Not Fit All

Donna M. MacFarland, Carolyn D. Marconi, and Stephen P. Utkus

Chapter 7 Employee Investment Decisions about Company Stock

James J. Choi, David Laibson, Brigitte Madrian, and Andrew Metrick

Part III Consequences for Retirement Education

Chapter 10 Sex Differences, Financial Education, and Retirement Goals

Robert L. Clark, Madeleine B. d'Ambrosio, Ann A. McDermed, and Kshama Sawant

Part IV Implications for Retirement Payouts

End Matter