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- February 2022
- Article
Borrowing to Save? The Impact of Automatic Enrollment on Debt
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and William L. Skimmyhorn
Does automatic enrollment into a retirement plan increase financial distress due to increased borrowing outside the plan? We study a natural experiment created when the U.S. Army began automatically enrolling newly hired civilian employees into the Thrift Savings Plan....
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Keywords:
Retirement Savings;
Automatic Enrollment;
Choice Architecture;
Nudge;
Financial Distress;
Retirement;
Saving;
Borrowing and Debt;
Behavior
Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and William L. Skimmyhorn. "Borrowing to Save? The Impact of Automatic Enrollment on Debt." Journal of Finance 77, no. 1 (February 2022): 403–447.
- Forthcoming
- Article
Automatic Enrollment with a 12% Default Contribution Rate
By: John Beshears, Ruofei Guo, David Laibson, Brigitte C. Madrian and James J. Choi
We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than previously studied defaults. Twenty-five percent of employees had not opted out of this default 12 months after hire; a literature review finds that the...
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Keywords:
Retirement Savings;
Defined Contribution Retirement Plan;
Automatic Enrollment;
Retirement;
Saving;
Income;
Decision Choices and Conditions
Beshears, John, Ruofei Guo, David Laibson, Brigitte C. Madrian, and James J. Choi. "Automatic Enrollment with a 12% Default Contribution Rate." Journal of Pension Economics & Finance (forthcoming). (Pre-published online September 11, 2023.)
- 2010
- Chapter
The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
Existing research has documented the large impact that automatic enrollment has on savings plan participation. All the companies examined in these studies, however, have combined automatic enrollment with an employer match. This raises a question about how effective...
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Keywords:
Motivation and Incentives;
Consumer Behavior;
Personal Finance;
Investment Funds;
Microeconomics;
Compensation and Benefits
Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment." In Research Findings in the Economics of Aging, edited by David A. Wise, 311–327. Chicago: University of Chicago Press, 2010.
- 2022
- Working Paper
Automating Short-Term Payroll Savings: Initial Evidence from a Large U.K. Experiment
By: Sarah Holmes Berk, John Beshears, James J. Choi and David Laibson
Automatic enrollment is often used to increase retirement plan participation. Can it be used to increase short-term savings as well? We evaluate preliminary data from an experiment at a large U.K. employer. After years of offering opt-in short-term payroll savings via...
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Berk, Sarah Holmes, John Beshears, James J. Choi, and David Laibson. "Automating Short-Term Payroll Savings: Initial Evidence from a Large U.K. Experiment." Working Paper, July 2022.
- 21 Feb 2014
- News
Why myRa is not the way to save for retirement
- Article
The Effect of Providing Peer Information on Retirement Savings Decisions
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Katherine L. Milkman
Using a field experiment in a 401(k) plan, we measure the effect of disseminating information about peer behavior on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A randomized subset of forms stated the fraction of...
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Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Katherine L. Milkman. "The Effect of Providing Peer Information on Retirement Savings Decisions." Journal of Finance 70, no. 3 (June 2015): 1161–1201.
- 2020
- Chapter
Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts
By: John Beshears, James J. Choi, J. Mark Iwry, David C. John, David Laibson and Brigitte C. Madrian
Roughly half of Americans live paycheck to paycheck. When financial shocks occur during their working life, many of these households tap into their retirement savings accounts. We explore the practical considerations and challenges associated with helping households...
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Beshears, John, James J. Choi, J. Mark Iwry, David C. John, David Laibson, and Brigitte C. Madrian. "Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts." In Tax Policy and the Economy, Volume 34, edited by Robert A. Moffitt, 43–90. Chicago: University of Chicago Press, 2020.
- 2019
- Working Paper
Biometric Monitoring, Service Delivery and Misreporting: Evidence from Healthcare in India
By: Thomas Bossuroy, Clara Delavallade and Vincent Pons
Developing countries increasingly use biometric identification technology in hopes of improving the reliability of administrative information and delivering social services more efficiently. This paper exploits the random placement of biometric tracking devices in...
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Keywords:
Biometric Technology;
Health Care and Treatment;
Technological Innovation;
Analytics and Data Science;
Quality;
Performance Improvement;
India
Bossuroy, Thomas, Clara Delavallade, and Vincent Pons. "Biometric Monitoring, Service Delivery and Misreporting: Evidence from Healthcare in India." NBER Working Paper Series, No. 26388, October 2019. (Revise and resubmit requested, Review of Economics and Statistics.)
- Web
Cross-Registration - MBA
submitted. Please be sure to check with your home school if you think this may be the case for you. HU Graduate Students Submit petitions online through my.Harvard. Please note that faculty approvals may automatically appear on your...
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- Web
Find Answers - MBA
candidates' application and will automatically be included in the application upon submission. Applicants should not wait for recommenders to submit their recommendations before submitting their applications. Is the recommendation...
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- Web
Program Policies - HBS Online
and reapply to a future cohort. By enrolling in CORe, participants will be ineligible to enroll in Business Analytics, Economics for Managers, or Financial Accounting as individual certificate programs....
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- Web
Frequently Asked Questions | HBS Online
Online participants who have enrolled in at least 1 prior qualifying HBS Online program. Restrictions apply. Please review the Program Policies page for more discount details. Discounts are automatically...
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- Web
Help - Alumni
payment timing. Pledge payments made in subsequent years will not be listed. A donor may request that he or she be recognized for payments as they are made over more than one fiscal year. Will my gift to HBS be automatically credited to...
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- Web
1.9 Course Registration - MBA
courses automatically upon enrollment at the start of the RC Fall Term and then again upon enrollment at the start of the RC Spring Term. In the RC year, students may not...
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- Web
1.11 Leaves of Absence - MBA
voluntary leave of absence; students in this situation who wish to discontinue their enrolment ordinarily are required to reapply for admission to the MBA Program in order to return, and readmission is not guaranteed. Involuntary Leaves...
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- Web
1.19 Immersive Field Courses (IFC) - MBA
Experience Office reserves the right to modify the course or deny a student’s choice of location(s) for coursework participation, whichever is the least-restrictive reasonable alternative. Health & Safety (International IFCs only) Students will be View Details
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1.18 Field Global Immersion (FGI) - MBA
basis, the Global Experience Office reserves the right to modify the course or deny a student’s choice of location(s) for coursework participation, whichever is the least-restrictive reasonable alternative. Health & Safety (International FGI locations only) Students...
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- 06 Nov 2017
- Blog Post
Meet the HBS Women’s Association
The mission of the WSA is to connect, empower, and celebrate the next generation of women leaders and we do so by engaging the HBS community in the continued pursuit of gender equality in the workplace and beyond. WSA membership is free and all women at HBS are View Details
- 24 Jul 2019
- Lessons from the Classroom
Can These Business Students Motivate Londoners to Do the Right Thing?
much. In this interpretation, it shouldn’t really matter whether the default is for employees to be automatically enrolled or not; in both cases, employees would think about their options and make a wise...
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Keywords:
by Dina Gerdeman
- 12 Oct 2017
- News
Fighting Poverty One Neighborhood at a Time
multigenerational cycles of poverty. “You can’t expect schools to consistently outperform the health of their neighborhoods,” says Majors, a vice president at Purpose Built Communities, an Atlanta-based, nonprofit consulting group. “The reality is that some employers...
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Keywords:
Deborah Blagg