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Abstract
Many organizations provide retirement planning seminars as a benefit to their employees, to help them make moreinformed retirement plans. This study examines 85 preretirement planning seminars conducted by five companies in 2008 and 2009 to determine whether participants improved their financial knowledge and learned important facts about retirement programs—and whether, on the basis of this potential change in knowledge, they adjusted their retirement plans. Using surveys conducted before and after the seminars, we find that financial literacy and knowledge of retirement program parameters were significantly higher after the seminar. Employees with the largest increases in knowledge were most likely to change their planned retirement age and planned age of claiming Social Security benefits.
TOPICS: Retirement, legal/regulatory/public policy, social security
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Don’t have access? Click here to request a demo
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US and Overseas: +1 646-931-9045
UK: 0207 139 1600