-cost intervention that substantially simplifies the retirement savings plan participation decision. Individuals received an opportunity … to enroll in a retirement savings plan at a pre-selected contribution rate and asset allocation, allowing them to … increase contribution rates among employees who are already participating in a savings plan …

on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A randomized subset …>decreased</i> the savings of non-participants who were ineligible for 401(k) automatic enrollment, and higher observed peer savings … rates also decreased savings. Discouragement from upward social comparisons seems to drive this reaction …

private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have … shifted towards defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate … retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC …

This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. After outlining the … defaults impact retirement savings outcomes at all stages of the savings lifecycle, including savings plan participation …, savings rates, asset allocation, and post-retirement savings distributions. The paper then discusses why defaults have such a …

We assess the impact of 401(k) plan design on four different 401(k) savings outcomes: participation in the 401(k) plan … have an important effect on all of these savings outcomes. This suggests an important role for both employers in …

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

Can governments increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions …

Including a matching contribution increases savings plan participation and contributions, although the impact is less … on savings plan contributions. In contrast, the match threshold has a substantial impact, probably because it serves as a … natural reference point when individuals are deciding how much to save and may be viewed as advice from the savings program …