Willingness to pay
understanding 403(b) fees
DOI:
https://doi.org/10.61190/fsr.v19i2.4969Keywords:
403(b), Fees, Pension, RetirementAbstract
While the private pension system relies heavily on the 40l(k) construct, the public and nonprofit sectors' 403(b) plan market is of considerable magnitude but has attracted less academic research. This essay seeks to explore the theoretical underpinnings of demand for 403(b) services, estimate an average willingness to pay for these services and compare that estimation with empirically observed data. It concludes by determining that some 403(b) service providers have historically captured the bulk of the consumer surplus afforded to individual consumers in this market.
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