Yale Economist Cormac O’Dea Receives TIAA’s 2025 Paul A. Samuelson Award

The TIAA Institute announced this week that Yale Economist Cormac O'Dea, together with coauthors Taha Choukhmane (Massachusetts Institute of Technology) and Lucas Goodman (U.S. Treasury Department), have been awarded the 30th annual Paul A. Samuelson Award for their study, "Efficiency in Household Decision-Making: Evidence from the Retirement Savings of US Couples."

The research, published in the American Economic Review in May 2025, reveals that many couples fail to coordinate retirement contributions, costing them an average of $14,000 in lost employer matches over their lifetime ($40,000 at the 90th percentile). By building a new dataset covering more than a million U.S. individuals, the authors documented widespread intra-household inefficiency: nearly one in five couples could increase their retirement savings by around $750 annually simply by reallocating existing contributions to the account with the higher employer match rate.

The Samuelson Award recognizes innovative research designed to increase Americans' lifelong financial well-being. The TIAA Institute presents the award annually at the ASSA conference, and the winners are chosen by an independent panel of judges.

“The research done by this year’s winners highlights a critical but often overlooked aspect of retirement planning—household coordination,” said Surya Kolluri, Head of TIAA Institute. "By exploring how couples can leave substantial employer matching dollars on the table, the authors provide actionable insights that can help millions of Americans strengthen their retirement security."

Read the full Press Release from TIAA here.