Automatic enrollment is often used to increase retirement savings. What are the effects of using it (or, alternatively …, requiring an active enrollment choice) to increase short-term savings? We evaluate two experiments in the U.K. at employers that … enable workers to set up payroll contributions to fund short-term savings accounts. In the first experiment (N = 7 …

increase retirement savings. However, gauging the relative efficacy of these approaches is challenging because the supporting … rates, active choice, and automatic enrollment) designed to increase retirement savings. Consistent with previous literature …, we find sizable effects of savings interventions on participation and cumulative contributions that increase with the …

We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than …

We study the introduction of a choice architecture design intended to increase short-term savings among employees at … from each paycheck into a short-term savings account from which withdrawals are possible at any time. We find that … very low: no more than 0.7% of eligible employees ever activated an account. Opt-in access to short-term savings programs …

Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on … retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before …