Every now and then you have a guest that like Prince, or Cher, that simply needs one name to know who they are. Today, I am happy to welcome Shlomo, more formally known as Dr. Shlomo Benartzi, Professor Emeritus, UCLA Anderson, Founder and CEO, PensionPlus. We dive into the compelling and complex topic of the good, the bad and the ugly of auto everything in retirement plans. As implied, auto features are powerful, but may or may not be the best solutions to everything. Love to hear what you agree or disagree with, please share and leave your comments on LinkedIn. I learned a lot, hope you do as well!
Guest Bio
Shlomo Benartzi is a behavioral economist interested in combining the insights of psychology and economics to solve big societal problems. He works on creating digital nudges that leverage technology to achieve massive scale and help millions make better financial decisions. He received a Ph.D. from Cornell University’s Johnson Graduate School of Management and is currently a professor emeritus and co-founder of the Behavioral Decision-Making Group at UCLA Anderson School of Management. He is also a Distinguished Senior Fellow at the Wharton Behavior Change for Good Initiative.
Benartzi’s work has demonstrated the potential for far-reaching improvement. Along with Nobel Laureate Richard Thaler of the University of Chicago, he pioneered the Save More Tomorrow™ (SMarT) program, a behavioral prescription designed to nudge employees to increase their savings rates gradually over time. In their original research, Benartzi and Thaler found that SMarT increased employee savings rates from 3.5 percent to 13.6 percent. The SMarT program is now offered by more than half of the large retirement plans in the U.S. and a growing number of plans in Australia and the U.K. The program has also been incorporated into the Pension Protection Act of 2006, enabling approximately 15 million Americans to boost their retirement savings.
To help bridge the gap between academic research and the real world, Benartzi has worked with many financial institutions and served on multiple advisory boards. He is currently a senior academic advisor for the Voya Behavioral Finance Institute for Innovation, Acorns, Blast, Lili, Personal Capital and Wisdom Tree.
401(k) Fridays Podcast Overview
Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 250 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode every other Friday!
The Workplace Retirement Plan Coverage Conundrum: The Challenge, Perspectives & Opportunities
Frustrated By Complex 401(k) Plan Terms? We'll Clarify If They Are Jargon, Gibberish or Jumbled!
When 401(k) Participants Go Missing: How Does It Happen, The Impact & What To Do!
Can You Create A "Perfect" Retirement Plan? - Rebroadcast
To Bundle Or Unbundled 401(k) Administration: Important Questions For An Important Decision
The Factors That Factor Into Factor Investing: Everything From the Basics to The Death of Style Boxes
Rebroadcast - Life In Retirement Without a Paycheck: Are Your Employees Ready?
A Major Workplace Retirement Plan Survey Says... The Sandwich Generation At A Critical Juncture!
Washington D.C. Workplace Retirement Plan Update: One Year Of Trump, Tax Reform & Much More!
Recruiting & Workplace Retirement Plans: Does Your 401(k) Help Talent Sign on the Line?
Embracing Courageous Retirement Plan Design: Conquering Inertia, Eating Elephants and Walking in Your Employees Shoes
Going Beyond the Numbers with Target Date Funds: The Importance of Exploring Process, Beliefs & Strategy
Keeping the 401(k) Boogey Man Away: A Conversation with THE 401(k) Litigator Jerry Schlichter - Part 2 of 2
Keeping the 401(k) Boogey Man Away: A Conversation with THE 401(k) Litigator Jerry Schlichter - Part 1 of 2
Ten Thoughts From Nearly 100 Podcast Conversations
Five Important Health Plan Trends for 2018: More In Common with Retirement Plans Than You Would Think!
Rising Interest Rates & 401(k) Plans: Is it True and What's an Employer to Do?
Building a Stronger Retirement Plan Fiduciary: The Importance of Leadership & Stewardship
Making The Business Case for Financial Wellness: A Path to ROI, or Nice Try?
Avoiding the Bubble in Complacency
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