Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
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It was very common for people not to participate, even when they had access to these plans.
And then along comes government policymakers with these sort of behavioral finance nudges, which involve the company basically enrolling you.
I don't know that policymakers are specifically targeting 50% participation of private sector workers in 401ks.
They certainly have, for years now, been trying to boost retirement.
people's access to 401k plans at work.
Not every employer out there offers one.
So that's been a big goal of policymakers.
And also trying to get more people in these plans to participate when they have access has been a big goal.
But, you know, everything moves really slowly in
401k world.
And about 50 years after we've started 401k plans, they're finally at a sort of a point where 50% of people are participating and 70% of private sector workers have access.
So that's something that we thought was worth writing about.
What has arisen and become very popular among 401k plans is something called automatic enrollment.
And that's something that regulators in Congress facilitated as long ago as 20, even 30 years ago.
But that's really been gaining traction.
It used to be that basically when you joined a company, the employer would say, hey, we have this 401k plan.
You need to enroll in it.
Here's how to do that.
And before the Internet, it was all paper based.
And, you know, it would take a long time to get the paperwork done.
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