Shlomo Benartzi, Professor and Co-Chair of the Behavioral Decision-Making Group at UCLA, and industry thought leader, in analyzing “Heuristics and Biases in Retirement Savings Behavior”, concludes that:

“Saving for retirement is a difficult problem, and most employees have little training upon which to draw in making the relevant decisions.   Perhaps as a result, investors are relatively passive.  They are slow to join advantageous plans; they make infrequent changes; and they adopt naïve diversification strategies.  In short, they need all the help they can get.”

Despite all the effort and resources spent on education, website tools and printed materials, most participants still don’t save enough and far too many make poor decisions in allocating their investments. This process demands new approaches and innovative solutions.