Filed Under:Markets, Employee Benefits

Boston College's CRR examines 401(K) auto-enrollment

The shift from defined benefit (DB) plans to defined contribution (DC) plans has left many Americans with the possibility of having unanchored retirements. The transition to contributing to and planning for one’s retirement has not been easy, resulting in inadequate retirement plans, even by diligent savers with the best intentions and woefully underfunded plans by those who take a lax approach to planning.

In order to ameliorate the underfunded retirement crisis brewing in America, automatic-enrollment (auto-enrollment) began to gain steam in the late 1990s. The trend, which was then bolstered by the Pension Protection Act of 2006, automatically enrolls employees in 401(K) plans forcing them to actively opt out rather than actively opt in.

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Nichole Morford

Nichole Morford
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