Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment

Michal Grinstein-Weiss; Michael Sherraden; William G. Gale; William M. Rohe; Mark Schreiner; Clinton Key; Jane E. Oliphant

doi:10.1080/01634372.2015.1052174

Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment

Michal Grinstein-Weiss
, Michael Sherraden
, William G. Gale
, William M. Rohe
, Mark Schreiner
, Clinton Key
, Jane E. Oliphant

Research output: Contribution to journal › Article › peer-review

13 Scopus citations

Abstract

We examine the 10-year follow-up effects on retirement saving of an individual development account (IDA) program using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the saving, including contributions to retirement accounts. The results indicate that as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.

Original language	English
Pages (from-to)	572-589
Number of pages	18
Journal	Journal of Gerontological Social Work
Volume	58
Issue number	6
DOIs	https://doi.org/10.1080/01634372.2015.1052174
State	Published - Aug 18 2015

Keywords

Asset effects
Individual Development Account (IDA)
low-income households
retirement
savings

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10.1080/01634372.2015.1052174

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title = "Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment",

abstract = "We examine the 10-year follow-up effects on retirement saving of an individual development account (IDA) program using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the saving, including contributions to retirement accounts. The results indicate that as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.",

keywords = "Asset effects, Individual Development Account (IDA), low-income households, retirement, savings",

author = "Michal Grinstein-Weiss and Michael Sherraden and Gale, \{William G.\} and Rohe, \{William M.\} and Mark Schreiner and Clinton Key and Oliphant, \{Jane E.\}",

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doi = "10.1080/01634372.2015.1052174",

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T1 - Effects of an Individual Development Account Program on Retirement Saving

T2 - Follow-up Evidence From a Randomized Experiment

AU - Grinstein-Weiss, Michal

AU - Sherraden, Michael

AU - Gale, William G.

AU - Rohe, William M.

AU - Schreiner, Mark

AU - Key, Clinton

AU - Oliphant, Jane E.

N1 - Publisher Copyright: © Taylor & Francis Group, LLC.

PY - 2015/8/18

Y1 - 2015/8/18

N2 - We examine the 10-year follow-up effects on retirement saving of an individual development account (IDA) program using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the saving, including contributions to retirement accounts. The results indicate that as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.

AB - We examine the 10-year follow-up effects on retirement saving of an individual development account (IDA) program using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the saving, including contributions to retirement accounts. The results indicate that as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.

KW - Asset effects

KW - Individual Development Account (IDA)

KW - low-income households

KW - retirement

KW - savings

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Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment

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