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Wednesday, May 20 • 1:00pm - 2:30pm
C1c The Factors Related with the Decision to Self-direct Own Retirement Plan

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Considering the growing importance of 401(k) plans in the retirement preparation of Americans, exploring how retirement plan participants manage their assets in 401(k) plans and why they make investment decisions is important. This study uses primary data to investigate the contributing factors associated with the decision to manage investment allocation in retirement plans, focusing on self-directed management versus choosing recommended portfolios such as target-date funds (TDF) or risk-based portfolios. Characteristics related to default effects (financial knowledge, experience, and loss aversion) and characteristics related to customized needs (risk tolerance, retirement age, and life expectancy) are key interests in the current study. This study contributes to the growing literature surrounding the default effect in behavioral economics with findings that can be applied to the largest investment many people make in life.

Author(s): HanNa Lim, Richard Stebbins, Travis Sholin


HanNa Lim

Assistant professor, Kansas State University

Wednesday May 20, 2020 1:00pm - 2:30pm CDT
Room 1