Financial Literacy and 401(k) Loans

Financial Literacy: Implications for Retirement Security and the Financial Marketplace

Volumn , Issue , 2011, Pages

  Utkus, Stephen P ^a,b   Young, Jean A ^a  

^a Vanguard Center for Retirement Research   (United States)

^b UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

Balance; Borrowing; Income; Loans; Participants; Plan; Retirement; Saving; Wealth

Indexed keywords

EID: 84896947847     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1093/acprof:oso/9780199696819.003.0004     Document Type: Chapter

References (12)

1. FINRA (2009). 2009 National Financial Capability Study. Washington, DC: FINRA Investor Education Foundation. http://www.finrafoundation.org/resources/research/p120478
2. Hilgert, M. A., J. M. Hogarth, and S. G. Beverly (2003). 'Household Financial Management: The Connection between Knowledge and Behavior,' Federal Reserve Bulletin, July: 309-22.
3. Holden, Sarah, J. VanDerhei, and L. Alonso (2009). 401(k) Plan Asset Allocation, Account Balances and Loan Activity in 2008. Washington, DC: Investment Company Institute. http://www.ici.org/pdf/per15-02.pdf
4. John Hancock Financial Services (2002). Insight into Participant Investment, Knowledge and Behavior: Eighth Defined Contribution Survey. Boston, MA: John Hancock Financial Services. http://www.mfcglobal.com/gsfp/survey2002.pdf
5. Jump$tart Coalition for Personal Financial Literacy (2004). Jump$tart Survey of Personal Financial Literacy among High School Students. Washington, DC: Jump-$tart Coalition for Personal Financial Literacy. http://www.jumpstart.org/survey.html
6. Li, Geng and P. A. Smith (2008). 'Borrowing from Yourself: 401(k) Loans and Household Balance Sheets,' Federal Reserve Working Paper 2008-42. Washington, DC: Federal Reserve.
7. Mottola, Gary R. and S. P. Utkus (2005). Life-Cycle Funds Mature: Plan and Participant Adoption. Malvern, PA: Vanguard Center for Retirement Research. https://institutional.vanguard.com/iip/pdf/LifeCycleStudy.pdf
8. Mitchell, Olivia S., S. P. Utkus, and T. Yang (2007). 'Turning Workers into Savers: Incentives, Liquidity and Choice in 401(k) Plans,' National Tax Journal, 60: 468-89.
9. Munnell, Alicia, A. Sunden, and C. Taylor (2002). 'What Determines 401(k) Participation and Contributions?,' Social Security Bulletin, 64 (3): 64-75.
10. United States Department of Labor (USDOL) (2010). Private Pension Plan Bulletin: Abstract of 2007 Form 5500 Annual Reports. Washington, DC: US Department of Labor, Employee Benefits Security Administration. http://www.dol.gov/ebsa/pdf/2007pensionplanbulletin.pdf
11. United States Government Accountability Office (USGAO) (1997). 401(k) Pension Plans: Loan Provisions Enhance Participation But May Affect Income Security for Some. Washington, DC: US Government Accounting Office. http://www.gao.gov/archive/1998/he98005.pdf
12. United States Government Accountability Office (USGAO) (2009). 401(k) Plans: Policy Changes Could Reduce the Long-Term Effects of Leakage on Workers' Retirement Savings. Washington, DC: US Government Accounting Office. http://www.gao.gov/products/GAO-09-715.