Sheraton Uptown, Albuquerque, NM, USA
Saturday, April 22 • 8:00am - 9:00am
104-Do Academicians Still Prefer Defined Benefit Plans?

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This research hypothesizes that faculty with greater financial knowledge will be more likely to select a defined contribution (DC) retirement plan over a defined benefit (DB) retirement plan. Further, the satisfaction with one’s retirement plan depends on the plan type and level of financial knowledge. The study featured a survey of faculty members employed by a university offering both DC and DB retirement plans. As expected, individuals with greater financial knowledge were more likely to select the DC plan. However, those individuals who selected the DC plan were less satisfied with their plan choice. The portability of the DC plan coupled with the individual’s greater knowledge should have led to roughly equal satisfaction levels. Market instability and loss aversion caused lower satisfaction for those in the DC plan.

Speakers & Presenters

Brenda J. Cude

Professor, Unviersity of Georgia

Heidi H. Ewen

Assistant Professor, University of Georgia
avatar for Jessica M. Parks

Jessica M. Parks

Doctoral Student, Graduate Assistant, University of Georgia
Hello! My name is Jessica Parks and I am a PhD student at the University of Georgia. My poster is about how UGA Faculty make a choice between the State's Defined Benefit plan or the Optional Retirement Plan (Defined Contribution plan). I am looking for ways to expand this research... Read More →

Michael P. Ryan

Graduate Student, University of Georgia

Saturday April 22, 2017 8:00am - 9:00am

Attendees (2)