ICanRetire-Hispanic Segment Experience (ICR-H): A Digital Educational Intervention for Improving Retirement Preparedness among Hispanic Workers
General Information
Title
ICanRetire-Hispanic Segment Experience (ICR-H): A Digital Educational Intervention for Improving Retirement Preparedness among Hispanic Workers
Author
Luisa Blanco
Publication Type
Working paper
Outlet
Pepperdine University, School of Public Policy Working Papers.
Year
2024
Abstract
We evaluated the digital program ICanRetire-Hispanic Segment Experience (ICR-H), which was
tailored to Hispanics and sought to improve retirement financial planning knowledge and
motivate program participants to take specific actions to prepare for retirement. To our
knowledge, this is one of the first digital educational programs on retirement preparedness that
was designed to meet the informational needs of Hispanics taking into account cultural
influences. We evaluated the program using a randomized controlled trial (RCT) in the
Understanding America Study (UAS) Internet panel. We conducted an analysis of differences in
means and proportions and Difference-in-Difference (DID) between treatment and control
groups for all participants, and for Hispanic and White participants separately. We found the
program to be associated with an increase on retirement knowledge, but the DID was not
statistically significant. We found that our digital program had a statistically significant positive
impact on specific actions related to retirement preparedness such as checking own retirement
saving plan online, increasing contributions to retirement saving plan, thinking about retirement
age and how much to save for retirement, reading about retirement from a printed source, and
talking about retirement preparedness with a family member. We also found that our digital
program successfully engaged participants to learn about retirement preparedness online, and
that the program experience was similar for Hispanic and White participants.