401(k) Plan Participation Data

A cross-sectional dataset on 401(k) plan participation rates and firm characteristics, widely used in empirical applications of fractional response models (e.g., Papke & Wooldridge, 1996). The data is derived from the 'wooldridge' package.

Usage

data("fracreg_k401k")

Format

A data frame with 1,534 observations and 10 variables:

prate

Participation rate: proportion of eligible employees participating in the 401(k) plan (0 to 1).

mrate

Match rate: the firm's contribution matching rate per dollar.

totpart

Total number of participants.

totelg

Total number of eligible employees.

age

Age of the 401(k) plan in years.

totemp

Total number of firm employees.

sole

Indicator variable: 1 if the 401(k) is the sole retirement plan offered.

ltotemp

Natural log of total employees.

age_sq

Square of plan age.

mrate_sq

Square of match rate.

Source

Papke, L. E., & Wooldridge, J. M. (1996). "Econometric Methods for Fractional Response Variables with an Application to 401(k) Plan Participation Rates." Journal of Applied Econometrics, 11(6), 619-632.

Examples

data("fracreg_k401k")
summary(fracreg_k401k$prate)
#>    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
#>  0.0300  0.7802  0.9570  0.8736  1.0000  1.0000