Pension Dataset Description

The pension dataset is used to analyze various factors influencing retirement savings and financial assets. The dataset contains several variables, each representing demographic and financial attributes of individuals.

Variables

1. D: Contribution to 401(k) Plan (pension$p401)

• Binary indicator variable.
• 1: Individual contributes to a 401(k) retirement plan.
• 0: Individual does not contribute to a 401(k) retirement plan.

2. Z: Eligibility for 401(k) Plan (pension$e401)

• Binary indicator variable.
• 1: Individual is eligible for a 401(k) retirement plan.
• 0: Individual is not eligible for a 401(k) retirement plan.

3. Y: Net Total Financial Assets (pension$net_tfa)

• Continuous variable.
• Represents the individual's total financial assets, adjusted for liabilities.

4. X: Covariates

• A matrix of individual-level demographic and financial features. The variables included are:

Data Structure

The dataset contains:
- Binary variables for 401(k) contributions and eligibility (D and Z).
- A continuous variable for financial assets (Y).
- A set of covariates (X) covering demographic and financial information.

Usage

The dataset can be used for:
- Analyzing the relationship between 401(k) eligibility/contribution and financial assets.
- Studying the effects of demographic factors on retirement savings behavior.
- Building models to predict financial asset accumulation based on demographic features.

Example R Code

Here is an example of how to load and prepare the data:

```R
data(pension)

D = pension$p401
Z = pension$e401
Y = pension$net_tfa
X = model.matrix(~ 0 + age + db + educ + fsize + hown + inc + male + marr + pira + twoearn, data = pension)
var_nm = c("Age","Benefit pension","Education","Family size","Home owner","Income","Male","Married","IRA","Two earners")
colnames(X) = var_nm