As efforts gear up to urge Americans to save more during America Saves Week (February 25–March 2), the news on the savings front is pretty grim. According to the Consumer Federation of America, U.S. Bureau of Labor Statistics data indicate that the American personal savings rate is at its lowest level since the U.S. financial crisis in 2008, at 6.0 percent of disposable income—and in fact is "continuing a 60-year downward trend line."

That's not good news for plan sponsors trying to find ways to encourage employees to save, and save more, for retirement.

But sponsors may not have considered turning to behavioral finance for some techniques that might provide a boost to more conventional tactics.

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