7 ideas to improve retirement plan design

Famed behavioral economist Shlomo Benartzi offers some outcome-focused changes.

Lawmakers have scrambled over the past year to minimize the financial impact that early withdrawals might have on retirement savers forced to dip into their accounts due to the pandemic. In a white paper for Voya Financial, Shlomo Benartzi, professor emeritus at UCLA Anderson School of Management and senior academic advisor at Voya, asks the question, “if we make it easy to draw down savings, how can we make it even easier to accumulate savings once the hardship is over?”

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Danielle Andrus

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