fraction that enroll by 28 percentage points relative to a standard opt-in enrollment procedure, producing a savings … strong propensity to procrastinate and savings preferences that are highly heterogeneous. Naive beliefs about future time …

extreme defaults, which are far away from the mean optimal savings rate. A default that is far away from a consumer's optimal … savings rate may make that consumer better off since such a bad' default will lead procrastinating consumers to more quickly … companies. Our work suggests that optimal defaults are likely to be at one of three savings rates: the minimum savings rate (i …

The complexity of the retirement savings decision may overwhelm employees, encouraging procrastination and reducing 401 … and asset allocation. By decoupling the participation decision from the savings rate and asset allocation decisions, the … Quick Enrollment(TM) mechanism simplifies the savings plan decision process. We find that at one company, Quick Enrollment …

: the initial fraction of savings allocated to company stock, the changes in this fraction, and the reallocations of …