Both the United States and Australia have increased the use of default settings in defined contribution (DC) plans such as 401(k)s. However, policy makers in the two countries have taken different approaches to important aspects of default investment products. This article discusses the regulation of those default investment products particularly regarding the assignment of fiduciary responsibility. It concludes that Australia’s approach offers two lessons for the U.S. First, disclosure to and education of participants who are defaulted into investment products appears to be of limited value to those participants. Second, to the extent possible, the locus of fiduciary responsibility for default investment products should be on those who are...
We address potential strengths and weaknesses of alternative protection schemes, which can be adopt...
This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. Aft...
As reported, most DC pension scheme participants simply follow proposed defaults, even though they h...
The insights of choice architecture have led to expanded use of default settings in defined contribu...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
We combine survey data from retirement plan members with information from interviews with plan execu...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
This Article is divided into two parts. In Part I, this Article summarizes the scope of a Plan Spons...
This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. Aft...
This Article considers the historical basis for the shift from defined benefit plans to defined cont...
Most defined-contribution (DC) pension plans give members a degree of choice as to the investment st...
The appropriateness of default investment options in participant-directed retirement plans like 401(...
Postprint.The purpose of this study was to examine the trend of Defined Contribution (DC) plan defer...
Defined contribution plan, Default option, Asset allocation, Downside risk, Lower partial moment, Va...
We address potential strengths and weaknesses of alternative protection schemes, which can be adopt...
This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. Aft...
As reported, most DC pension scheme participants simply follow proposed defaults, even though they h...
The insights of choice architecture have led to expanded use of default settings in defined contribu...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
We combine survey data from retirement plan members with information from interviews with plan execu...
For participants in defined contribution (DC) plans who refrain from exercising investment choice, p...
This Article is divided into two parts. In Part I, this Article summarizes the scope of a Plan Spons...
This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. Aft...
This Article considers the historical basis for the shift from defined benefit plans to defined cont...
Most defined-contribution (DC) pension plans give members a degree of choice as to the investment st...
The appropriateness of default investment options in participant-directed retirement plans like 401(...
Postprint.The purpose of this study was to examine the trend of Defined Contribution (DC) plan defer...
Defined contribution plan, Default option, Asset allocation, Downside risk, Lower partial moment, Va...
We address potential strengths and weaknesses of alternative protection schemes, which can be adopt...
This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. Aft...
As reported, most DC pension scheme participants simply follow proposed defaults, even though they h...