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The Behavioral Economic Case for Paternalistic Workplace Retirement Plans
Paul M. Secunda via SSRNLink to more items from this source
[Opinion]
June 23, 2015
"Dependence on 401(k) retirement accounts continues to cause a massive retirement crisis in the United States by leaving most workers unprepared for retirement. The voluntary, inaccessible, employer-centered, expensive, and consumer-driven nature of these plans has combined to make retirement a type of corporate-inspired elder abuse in America.... Behavioral economics considers the utility of permitting individual choice in decision-making settings.... [The author outlines] here a vision for the transformation of the American 401(k) retirement system into an efficient and sustainable superannuation model based on behavioral economic insights from the Australian workplace retirement system."

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