Microsoft Word Ed Horwitz Post Dissertation Fina docx

  Outcomes of the Financial Education Program 
Additional data was collected approximately 90 days after the conclusion of the second 
financial education program. Two forms of additional post-program follow up were gathered—

---

 
46 
actual pension contribution changes following the start of the education program, and self-
reported changes in financial beliefs and behaviors.    
 Change in Pension Contributions 
It was determined that only one of the 46 participants from the second educational 
program group made actual changes to plan contribution rates, after filtering out automatic 
increases due to annual cost of living increases in participant compensation. However, 48% of 
responders from the follow up survey indicated they had increased their 401(k) contributions 
since beginning the program. The inconsistent results from these two data sources can be caused 
by errors made by the plan administrator in properly assessing the participant contribution 
changes, or responders providing inaccurate information. In either case, a higher number of 
participants were expected to have increased their pension savings rates in light of the 
information presented in the educational program.