How can employers encourage young workers to save for retirement?

Montgomery, Nicole Votolato, Lisa R. Szykman, and Julie R. Agnew. “How can employers encourage young workers to save for retirement?”. Issue in Brief 12-7, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, March 2012. http://hdl.handle.net/2345/bc-ir:104686.
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Abstract

The brief's key findings are: (1) One reason young workers don't save for retirement is that the event is so far off. (2) An experiment to boost their saving tested different ads: (2a) abstract or concrete wording ("why you should save more now" vs. "how you can save more now"); and (2b) a short- or long-term savings goal ("how much to save from each paycheck" vs. "how much to save over your lifetime"). (3) The most effective ads paired abstract wording with a long-term goal and concrete wording with a short-term goal. (4) These communications designed to spur saving by young workers should match the framing of the message to the time horizon of the savings milestone

Title
How can employers encourage young workers to save for retirement?
Author
Montgomery, Nicole Votolato
Szykman, Lisa R.
Agnew, Julie R.
Center
Center for Retirement Research
Genre
report
Date Issued
March 2012
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
12-7
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104686
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing retirement

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