Adam Bloomfield

U.S. Federal Deposit Insurance Corporation

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State Auto-IRA Policies and Firm Behavior: Lessons from Administrative Tax Data
August 2024 - Working Paperw.nber.org/papers/w32817
Author(s) - Adam Bloomfield, Lucas Goodman, Manita Rao & Sita Slavov
Several states have recently attempted to boost retirement saving by adopting auto-IRA policies that require employers not currently offering an employer-sponsored retirement plan (ESRP) to either (1) establish an ESRP or (2) enroll employees in state-facilitated Individual Retirement Accounts (IRAs...
Early Findings on State Auto-Enrollment IRA Programs
August 1, 2023 - Article
Author(s) - Adam Bloomfield, Kyung Min Lee, Jay R. Philbrick & Sita Slavov
In 2017, Oregon became the first state to implement an auto-enrollment Individual Retirement Account (IRA) program. Illinois and California soon followed. Another 19 states have taken steps to create one. Under such programs, the state receives payroll data from companies without retirement plans...
How Do Firms Respond to State Retirement Plan Mandates?
June 2023 - Working Paperw.nber.org/papers/w31398
Author(s) - Adam Bloomfield, Kyung Min Lee, Jay Philbrick & Sita Slavov
We investigate how state Auto-IRA mandates affect firm offerings of employer-sponsored retirement plans (ESRPs). These policies require firms without ESRPs to facilitate automatic employee contributions to state-created individual retirement accounts (IRAs). We find that these policies increase an...
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