It's something marketing types have said for years: Sometimes less really is more—according to a new study.
In a paper titled "Simplifying Choices in Defined Contribution Retirement Plan Design," Donald B. Keim, John B. Neff Professor of Finance at the Wharton School and Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor of Insurance/Risk Management & Business Economics/Policy at the Wharton School, found that reducing the number of investment options available in retirement plans not only reduced risk, but also led to greater long-term savings of nearly $10,000 per participant.
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