David John

AARP Public Policy Institute
601 E Street NW
Washington, DC 20049

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: AARP Public Policy Institute

NBER Working Papers and Publications

November 2019Building Emergency Savings Through Employer-Sponsored Rainy-day Savings Accounts
with John Beshears, James J. Choi, Mark Iwry, David Laibson, Brigitte C. Madrian: w26498
Many Americans live paycheck to paycheck, carry revolving credit balances, and have little liquidity to absorb financial shocks. One consequence of this financial vulnerability is that many individuals use a portion of their retirement savings during their working years. For every $1 that flows into 401(k)s and similar accounts, between 30¢ and 40¢ leaks out before retirement (Argento, Bryant, and Sabelhaus 2015). We explore the practical considerations and challenges associated with helping households accumulate liquid savings that can be deployed when urgent pre-retirement needs arise. Automatically enrolling workers into an employer-sponsored “rainy-day” or “emergency” savings account—terms that we use interchangeably in this paper—funded by payroll deduction could be a cost-effective w...
Building Emergency Savings through Employer-Sponsored Rainy-Day Savings Accounts
with John Beshears, James J. Choi, J. Mark Iwry, David Laibson, Brigitte C. Madrian
in Tax Policy and the Economy, Volume 34, Robert Moffitt, editor

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