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Godfather of auto-enrollment says reducing 401(k) deferrals ‘massively progressive’

On Twitter this week, Nobel laureate Richard Thaler staked out an unpopular position on the question of whether Congress should limit pre-tax contributions to 401(k)s as a part of tax reform.

By Nick Thornton | Updated on October 27, 2017
Nobel laureate Richard Thaler staked out an unpopular position on the question of whether Congress should limit pre-tax contributions to 401(k)s as a part of tax reform.(Photo: Shutterstock)

When Congress passed the Pension Protection Act of 2006, paving the way for greater use of auto-enrollment in 401(k) plans, lawmakers rationalized the landmark policy largely on the work of a few economists.

One was Richard Thaler, the recent recipient for the Nobel Prize in Economics based on his research on behavioral economics, who first began writing about automatic enrollment and escalation in 401(k)s in 1994.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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