Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement.

In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.

When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.

Richard Thaler Quotes