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Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions? / M. Martin Boyer, Philippe d'Astous, Pierre-Carl Michaud.
- Format:
- Book
- Author/Creator:
- Boyer, M. Martin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26128.
- NBER working paper series no. w26128
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- We conduct a stated-choice experiment to analyze the decision to contribute to front- or back-loaded tax-sheltered savings accounts. Our experimental design includes a randomized financial education treatment that provides information on these accounts. We assess whether respondents learn about the tax implications of these accounts and make contribution choices that increase after-tax income when exposed to the intervention. We find that our intervention improves both the understanding of the tax implications of the savings accounts (an increase of 6 to 15 percent) and contribution decisions. We find effects on after-tax lifetime-income for respondents by up to $1,900 per scenario presented.
- Notes:
- Print version record
- July 2019.
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