Retirement Savings of Private and Public Sector Employees: A Comparative Study
Journal of Applied Business Research, Vol. 26, No. 6, 2010
Posted: 25 Aug 2010
Date Written: August 24, 2010
Abstract
This study examines the retirement plan participation and savings for United States government employees using the Panel Study of Income Dynamics data set. The findings of this study indicate that plan participation increases with age, income and educational attainment. Those government employees who participate in defined contribution plans make greater contributions into their retirement plans than the non government employees. Minorities and employees with lower income are less likely to participate in the Individual Retirement Accounts, while those with higher educational attainment are more likely to participate.
Keywords: Retirement savings, IRA, Plan Participation, Asset Allocation
JEL Classification: D12, D14, J10, J30
Suggested Citation: Suggested Citation