TY  - BOOK
AU  - Pool,Veronika K.
AU  - Sialm,Clemens
AU  - Stefanescu,Irina
ED  - National Bureau of Economic Research.
TI  - It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans 
T2  - NBER working paper series
PY  - 2013///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - February 2013; Hardcopy version available to institutional subscribers
N2  - This paper investigates whether mutual fund families acting as trustees of 401(k) plans display favoritism toward their own funds. Using a hand-collected dataset on retirement investment options, we show that poorly-performing funds are less likely to be removed from and more likely to be added to a 401(k) menu if they are affiliated with the plan trustee. We find no evidence that plan participants undo this affiliation bias through their investment choices. Finally, the subsequent performance of poorly-performing affiliated funds indicates that these trustee decisions are not information driven and are costly to retirement savers
UR  - https://www.nber.org/papers/w18764
UR  - http://dx.doi.org/10.3386/w18764
ER  -