Working Paper: NBER ID: w21382
Authors: Robert L. Clark; Emma Hanson; Melinda Sandler Morrill; Aditi Pathak
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 the impact of inter-district differences in supplemental plan administration on 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: retirement savings; 403b plans; public school districts; North Carolina
JEL Codes: H75; J26; J45
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Number of vendors offering 403b plans (G24) | Participation rates in any supplemental plan (H55) |
| Number of vendors offering 403b plans (G24) | Participation rates in 403b plans (H55) |
| Quality of websites (L15) | Participation rates in 403b plans (H55) |
| Moderate website quality (L15) | Probabilities of participation in 403b plans (G52) |
| High-quality websites (L15) | Participation rates in specific plans (H55) |