Humans, Being?

Our industry has long bemoaned the apparent “ineptitudes” of participant behaviors regarding their retirement savings accounts. They don’t always choose to save, even when provided with an assortment of enticements and incentives to do so and, even once they are coaxed into these programs, they tend not to make any changes whatsoever—certainly not the changes we experts would recommend. In fact, a whole area of study—behavioral finance—has turned its focus on a new generation of “auto” plan designs specifically designed to counter these all-too-human tendencies.