TIAA Institute and Pension Research Council Showcase New Behavioral Finance Research Focused on Improving Retirement Outcomes

NEW YORK (June 25, 2020) – The TIAA Institute and its long-standing partner,  the Pension Research Council (PRC) of the University of Pennsylvania’s Wharton School, released new research about how behavioral factors and biases can affect financial decisions at various stages of employment.

“Achieving financial security has become more challenging than ever due to the coronavirus pandemic and resulting economic crisis,” said Stephanie Bell-Rose, Head of the TIAA Institute. “The financial impact of this moment will be felt for years, and creative approaches will be needed to guide Americans back toward greater financial stability. The studies released today provide insights that are essential to understanding how psychological influences and biases can affect and increase financial security during this critical time.”

This new research from established scholars and thought leaders adds to a growing series of studies in the behavioral finance area that have helped inform decisions aimed at improving retirement security. This work dives further into behavioral factors and biases that affect the retirement outcomes of Americans across generations, financial literacy levels, work and home environments, and more.

“We are delighted to extend our innovative collaboration with the TIAA Institute on cutting-edge research on ways to enhance retirement financial security,” said Olivia S. Mitchell, Director of Wharton’s Pension Research Council.

The following research was released during today’s symposium. To view all the reports in full and key findings of each paper, please click HERE.

Press Contact: John McCool, 888-200-4062,

About the TIAA Institute
The TIAA Institute helps advance the ways individuals and institutions plan for financial security and organizational effectiveness. The institute conducts in-depth research, provides access to a network of thought leaders, and enables those it serves to anticipate trends, plan future strategies and maximize opportunities for success. For more information about the TIAA Institute, visit and follow us on Twitter @TIAAInstitute.

About TIAA
With an award-winning track record for consistent investment performance, TIAA ( is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1.1 trillion in assets under management (as of 3/31/2020) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.