The Center for Retirement Research at Boston College recently conducted a study to see if income projections affect retirement saving. It looked at 17,000 employees at the University of Minnesota who are more highly educated and have more retirement savings than the national population because they are covered by Social Security and have access to one of two generous employer plans. In addition, they also can contribute to a tax-deferred Voluntary Retirement Plan (VRP).

The experiment tested the effect of providing employees with age-specific projections of the additional retirement income they could get if they were to make additional contributions to a VRP.

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