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The Digital Fiduciary: Online Behavior and Retirement Success

In this talk, acclaimed behavioral economist Shlomo Benartzi will reveal how we can apply the latest behavioral economics research to help participants achieve a secure retirement. In the digital age, retirement security often depends more on fast decisions made on smartphones (and the designs that influence them) than on investment performance. Benartzi will outline a series of studies showing how improved digital design can dramatically enhance participant decision-making and boost financial security. For instance:

  • Enhancing the design of an auto-enrollment screen can boost the share of workers who personalize their enrollment by 9 percentage points. Those who personalize have a savings rate that’s twice as high as those who don’t.
  • Raising online suggested savings rates up to 10 percent doesn’t decrease plan enrollment but does increase savings.
  • Measures of online decision-making style are closely correlated with projected income replacement in retirement.

Benartzi will conclude by offering seven actionable steps for plan sponsors and advisors. It’s no longer enough to worry about investment oversight. We now have a duty to also focus on how our digital designs can shape the decisions of participants, and how better design can lead to better outcomes.

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  • September 10, 2019 Create Date
  • January 8, 2020 Last Updated
Keynote Speaker - Dr. Shlomo Benartzi