How Much Choice is Too Much? Contributions to 401(k) Retirement Plans
Level 4 - case-series / case-control
Level 4 by design analogy (observational study of plan-level data, non-clinical CEBM).
OpenAlex W2102309240 · doi:10.1093/0199273391.003.0005
What was done
Analyzed 401(k) plan participation rates among clients of the Vanguard Group to evaluate whether the number of fund options offered was associated with employee participation decisions.
What was found
The abstract reports no numerical data, sample sizes, or effect estimates. It reports only the directional finding that 401(k) plans offering more fund options had a lower probability of employee participation.
Why it matters
Provides empirical evidence from retirement savings behavior that expanding choices can lead to choice overload and lower enrollment, challenging the assumption that more options always increase participation.
Limits
The abstract contains no quantitative metrics, effect sizes, or confidence intervals. The sample size and exact population details are unspecified, and the observational design cannot eliminate confounding factors related to employer characteristics or plan structures.
Cited by
- supports When retirement plan choice sets become increasingly complex, employees become more likely to make no decision and forfeit company matching funds.