Using Behavioral Interventions to Increase Retirement Savings
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In 2014, the Chief Evaluation Office (CEO) contracted with Mathematica Policy Research and ideas42 to explore the potential of using insights from behavioral science to improve the performance and outcomes of the U.S. Department of Labor (DOL) programs under the Advancing Behavioral Interventions in Labor Programs portfolio of studies. In this study, the DOL Behavioral Interventions (DOL-BI) team partnered with the Human Resources Division of DOL (DOL-HR) and the Employee Benefits Security Administration (EBSA) to explore whether low-cost, behaviorally informed emails would result in more DOL employees saving, or saving more, for retirement.
This Department of Labor-funded study was a result of the annual process to determine the DOL’s research priorities for the upcoming year. It contributes to the labor evidence-base to inform various programs and policies and addresses Departmental strategic goals and priorities.
- Can emails informed by behavioral science encourage more DOL employees to increase their savings?
- What email communication strategies are most effective at improving savings?
- For whom do these emails work?
- What lessons might help inform similar efforts in other contexts?
- Using Behavioral Interventions to Increase Retirement Savings Technical Report (Technical Report, May 2017)
- Using Behavioral Interventions to Increase Retirement Savings Final Project Brief (Issue Brief, May 2017)
- Using Behavioral Interventions to Increase Retirement Savings Interim Project Brief (Issue Brief, May 2017)
- Using Behavioral Interventions to Increase Retirement Savings Infographic (Infographic, May 2017)
- Using Behavioral Interventions to Increase Retirement Savings Narrated Webinar (Webinar, May 2017)
Project Duration: 60 Months
Contract End Date: May 2017
Contractor: Mathematica and Ideas42
For More Information: ChiefEvaluationOffice@dol.gov
The Department of Labor’s (DOL) Chief Evaluation Office (CEO) sponsors independent evaluations and research, primarily conducted by external, third-party contractors in accordance with the Department of Labor Evaluation Policy and CEO’s research development process.