Automatic Enrollment Quotes

When I turn 55, I'm going to be on Medicare. I can call up and tell them I don't want to be on Medicare, but otherwise, I'll be on Medicare. So they use this kind of automatic enrollment. We give states the option of automatically enrolling those who are eligible.

Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.

Pension reforms, like investment advice and automatic enrollment, will strengthen the ability of Americans to save and invest for retirement.

I favor every worker having access to a retirement savings account, and there are various options for doing this. I do support states implementing their own plans, and I expect them to play an important role in increasing retirement savings for young professionals especially.

In a typical 401k plan, when you first become eligible you get a big pile of forms and you're told, fill out these forms if you want to join. Tell us how much amount you've saved and how you want to invest the money. In, under automatic enrollment you get that same pile of forms but the top page says, if you don't fill out these forms, we're going to enroll you anyway and we're going to enroll you at this saving rate and in these investments.

When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.

The lesson from behavioral economics is that people only save if it's automatic.

There's a second component of a good savings plan, which is something that a colleague of mine called Schlomo Benartzi and I developed many years ago, that we call "save more tomorrow."

It has long been said the only things in life that are certain are death and taxes. Automatic enrollment for insurance of 401k loans would add an additional certainty. Fewer Americans would suffer the unnecessary loss of retirement savings due to unanticipated and untimely misfortune in an already stressful time of need.