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Supplemental plan offerings and retirement saving choices: an analysis of North Carolina school districts*‡

Published online by Cambridge University Press:  10 June 2016

ROBERT L. CLARK ,
EMMA HANSON ,
MELINDA SANDLER MORRILL  and
ADITI PATHAK
ROBERT L. CLARK
Affiliation:
Professor of Economics and Management, North Carolina State University and Research Associate, National Bureau of Economic Research (e-mail: robert_clark@ncsu.edu)
EMMA HANSON
Affiliation:
Doctoral Candidate, Economics, North Carolina State University and Policy Researcher, North Carolina Department of State Treasurer (e-mail: evhanson@ncsu.edu)
MELINDA SANDLER MORRILL
Affiliation:
Associate Professor, Department of Economics, North Carolina State University (e-mail: melinda_morrill@ncsu.edu)
ADITI PATHAK
Affiliation:
Doctoral Student, Economics, North Carolina State University (e-mail: aspathak@ncsu.edu)
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Abstract

Unlike private sector employers, public school districts generally offer more than one type of supplemental retirement savings plan and allow multiple vendors to offer products. Using individual-level payroll data from over half of the public school districts in North Carolina coupled with data from an employer survey, this study examines how inter-district differences in supplemental plan administration are related to participation in these savings vehicles. We find wide variation in total participation rates and in 403(b) plan participation rates in particular, even among this population of public-sector workers with the same defined benefit pension plan, health plan, and retiree health coverage. Individual and district characteristics explain some, but not all, of the variation observed.

Keywords

J32J45H75Supplemental retirement saving plans403(b)retirement savings
Type
Articles
Information
Journal of Pension Economics & Finance , Volume 15 , Special Issue 3: The Impact of Reforms of State Retirement Plans , July 2016 , pp. 333 - 355
Copyright
Copyright © Cambridge University Press 2016 

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