Retirement Security Matters: September 8, 2022
We’re enjoying early fall – that season where there’s a nip in the morning air but you’re sure you should be wearing shorts with your neighbors in the afternoon. That is, unless you’re back in the office! Wherever you are, we’ve got cool stuff for you. Settle in for the first-of-fall updates:
• CalSavers leaps forward with Katie Selenski
• We've crossed the $500 million mark! -- state metrics
• Updates from California, Colorado & New Mexico, Illinois, Maine, Maryland, Oregon, Vermont, and Delaware
• Who present-bias, me? Duke’s Perry Wright on precommitment.
• Hot Sauce! Fresh research and some brain expanders
• Pix of the week, from balancing on the SUP to ballparking together ...
CalSavers: 340,000 New Savers, and Counting
Since 2017, CalSavers’ Katie Selenski has been in charge of what has quickly become – and is likely to remain -- the nation’s largest Auto IRA program. While the successes are wonderful, the challenges are also very real. What’s it like to launch a program that covers nearly 8 million workers?
May I Offer You a Precommitment?
Defaults and Anchors are powerful because they operate on three behavioral principles. They make choices easy. They provide an implicit endorsement. And they endow users with a status quo that they have to actively choose to change. How can you use defaults and anchors to give your users a big nudge toward better outcomes? With Perry Wright of Duke University.