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

14 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 - 18 Aug 2015
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities

Keywords

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

ASJC Scopus subject areas

Social Sciences (miscellaneous)
Nursing (miscellaneous)

Access to Document

10.1080/01634372.2015.1052174

Cite this

@article{ee47922431274a969637156c6f0c1118,

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.\}",

note = "Publisher Copyright: {\textcopyright} Taylor \& Francis Group, LLC.",

year = "2015",

month = aug,

day = "18",

doi = "10.1080/01634372.2015.1052174",

language = "English",

volume = "58",

pages = "572--589",

journal = "Journal of Gerontological Social Work",

issn = "0163-4372",

publisher = "Routledge",

number = "6",

}

TY - JOUR

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

UR - https://www.scopus.com/pages/publications/84941943086

U2 - 10.1080/01634372.2015.1052174

DO - 10.1080/01634372.2015.1052174

M3 - Article

C2 - 26016650

AN - SCOPUS:84941943086

SN - 0163-4372

VL - 58

SP - 572

EP - 589

JO - Journal of Gerontological Social Work

JF - Journal of Gerontological Social Work

IS - 6

ER -

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

Abstract

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this