Dartmouth Study: Videos Boost Retirement Plan Participation

Individuals in today’s society are increasingly responsible for their own financial security after retirement. Yet many are not prepared or motivated to make saving and investing decisions. Lower income and female employees are particularly challenged, with disproportionately low financial literacy and participation in savings and tax favored programs. 

Though there have been other studies focused on savings barriers, there remains a question on how to effectively reach, inform and elicit increased participation by these groups. Dartmouth College researchers, Annamaria Lusardi, Punam Anand Keller and Adam Keller, focused on that question.

They formulated a unique methodology to study the needs and obstacles of this target group and then used their findings to devise a cost-effective program to increase retirement plan participation. By developing and implementing a workplace financial education program model, researchers witnessed a significant enrollment increase in employer-sponsored retirement savings plans within 30 days of new-hire orientation. 

The methodology and findings are detailed in their report, Increasing the Effectiveness of Retirement Savings Programs for Females and Low Income Employees: A Marketing Approach.

Read the entire report here.

Saving for Retirement Videos

Financial planning and saving are crucial. The sooner you begin saving and investing, the sooner your money will start working for you. Dartmouth employees speak about the importance of saving for retirement.