Professor Richard Thaler’s Nobel Prize in Economics for his work in behavioral economics is also a Nobel Prize for retirement savers—for the millions of individuals helped by his ideas and as a result on their way to a better financial future.
In June 2017, Vanguard issued the first How Australia Saves. Investment behavior is similar worldwide. Investors who choose professionally managed allocations have reduced the dispersion of risk and return vs. self-directed investors.
It’s National Retirement Security Week, and Managing Director Martha King celebrates the year-round efforts of plan sponsors to make retirement readiness a reality for participants.
Head of Vanguard Retirement Plan Access discusses the role of professional partnerships in the management of small- and mid-size retirement plans and how guidance on issues like plan design can result in small changes that produce meaningful results for participants.
Learn about Vanguard’s new participant homepage, which makes it easier for participants to understand what they have, what it means, and what they should do next.
Since 2001, more defined contribution plans are adopting automatic enrollment and many are also implementing stronger savings rate defaults. Over 20% more people are saving in these plans. Meanwhile, the total savings rate has stayed the same.
This blog discusses creating a cadence for planwide events. Margaret Rux, head of Vanguard Strategic Retirement Consulting, says a schedule of reenrollments and sweeps can improve plan participation rates and help get participants into age-appropriate investments.