Automatic enrollment results in lower savings rates, as workers often fail to save more than 3 percent—the most common automatically set savings rate. (Photo: Shutterstock)
A new study sponsored by TIAA sets out to parse the reasons why participants in defined contribution plans behave they way they do when defaulted into plans at a 3 percent deferral rate.
Policy experts across the retirement industry have noted automatic enrollment's role in increasing participation rates in voluntary savings plans over the past decade.
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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.
