David J. Ekerdt|Jennifer Hackney
Workers' Ignorance of Retirement Benefits
University of Kansas|University of Kansas
study considered extent workers unfamiliarity retirement benefits problem could compromise informed retirement planningamong workers 1992 health retirement study examined frequency dont know responses question series employer pensions health insurance social securityeligible workers readily offered responses shared public details pension plans knowledge personal pension wealth lacking one third persons defined benefit plans one fifth defined contribution plans among household financial respondents 14 know health insurance continuation retirement 52 could offer expected social security amount nonresponse patterned proximity retirement social occupational factorsmore problem missing data findings argue theoretical reconsideration role financial knowledge retirement behavior ignorance benefits probably less problem disclosure workers inattention available information