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6 responses to “How to Nudge 401k Participation Higher”

  1. BenefitJack

    Seeking data to confirm the result/impact of automatic features…

    Check out the website retirementmadesimpler.org (look for success stories tab).

    See also Vanguard’s Study, How America Saves, pages 18 – 30
    https://institutional.vanguard.com/iam/pdf/HAS.pdf

  2. Chris Carosa

    Readers:

    Please note the above site (retirementmadesimpler.org) is not a commercial site, so BenefitJack is not spamming, he’s sharing info. Also, the Vanguard Study, referenced in a previous Fiduciary News article, confirms the ability of automatic enrollment to increase participation.

  3. Chuck Furr

    I certainly believe auto enrollment and auto increase are the most effective ways of using the inertia to move people closer to retirement success. Who would you suggest as the best recordkeepers to implement auto functions? Most plan administrators would like to have a turnkey operation where the newly eligible ee is notified, enrolled and increased with as little plan administrator involvement as possible.

  4. Chris Carosa

    Chuck:

    Thanks for the question. This is a question perhaps best asked in the Fiduciary News Group in LinkedIn.

  5. Check Here to Tip Taxi Drivers or Save for 401(k); The broadest lesson is that for better or for worse, default rules and settings have a great deal of power. Businesses and governments need to think hard about them | Bamboo Innovator

    [...] have changed the default to automatic enrollment. The results are clear: Many more workers end up enrolled and are thus put in a position to retire with far greater [...]

  6. Getting Into Columbia University Graduate School

    Your style is so unique in comparison to other folks I have read stuff
    from. I appreciate you for posting when you’ve got the opportunity, Guess I’ll
    just bookmark this site.

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