New voya behavioral finance research finds employers can boost ‘default escalators' in 401(k) plans without decreasing participation

Windsor, conn.--(business wire)--voya financial, inc. (nyse: voya), is sharing findings from a new field study conducted through the voya behavioral finance institute for innovation focusing on finding the optimal retirement plan design settings for automatic escalation. the results of the study, which are further outlined in voya's thought leadership paper “how to auto-escalate your 401(k),” found that employers have an opportunity to help increase savings behaviors of their workforce by adopt.
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