Behavioral Finance

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The psychology of decision making

How information is presented, or “framed,” and other personal biases affect decision-making. The TIAA Institute focuses on such issues as how to motivate people to make decisions about when to claim Social Security, whether or not to annuitize, and how to save for retirement. 

Insights

November 2008

This paper examines the two sets of factors controlled by a worker and affecting a person’s Social Security benefit.

October 2008

This paper examines two studies of investment risk taking among higher education employees in their institution-sponsored retirement savings plans. Risk taking is a complex psychological and behavioral process. The first study examined direct correlates of risk taking.

May 2008

This paper examines how supplemental retirement savings decisions of higher education faculty are influenced by the generosity and structure of an individual’s primary retirement plan.

Research Reports

June 2016

More than 30 million Americans are projected to retire in the next decade – and most have not saved nearly enough for retirement. Moreover, almost half of all Social Security recipients claim benefits at the earliest possible age (62), which can greatly reduce their total lifetime benefits.

December 2015

As employer-sponsored savings vehicles, like 401(k)s, become a major source of retirement income for millions of Americans, personal biases can have an outsized impact on retirement security.

November 2015

Delaying increased contributions to a retirement plan can actually boost retirement savings, but it all depends on how the delay is positioned.