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ERIC Number: EJ785007
Record Type: Journal
Publication Date: 2007-Aug
Pages: 38
Abstractor: Author
Reference Count: 0
ISSN: ISSN-0361-0365
Retirement Savings Behavior of Higher Education Employees
Dulebohn, James H.; Murray, Brian
Research in Higher Education, v48 n5 p545-582 Aug 2007
Higher education employees often participate in university-sponsored defined contribution pension plans that place the investment decision responsibility upon them. In order to examine investment decision-making behavior with retirement savings plans we investigated attitude-mediated, individual difference determinants of risky decision-making behavior in employer-sponsored defined contribution retirement plans. Using a field survey of 795 higher education employees, who participated in one of four defined contribution savings plans, we tested a risk taking model using data on the employees' investment allocations in their defined contribution savings plan. We found that an attitudinal preference toward risk and a perception of opportunity served as mediators for the relationships among employees' dispositional characteristics and their retirement savings behavior. We also found that investment knowledge directly affected risk taking behavior. Implications of the results for higher education institutions are discussed.
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A