Lily Batchelder joined ReLab's Political Economy of Aging speaker series to present a lecture titled, "Improving Retirement Savings Choices Through Smart Defaults."
Americans are not saving enough for retirement. One of the most powerful levers for influencing retirement savings behavior is through defaults, but there have been relatively few reforms to leverage their influence within our voluntary retirement system over the past decade. Making defaults "smarter"-including adjusting defaults based on socioeconomic characteristics of savers-is a simple way that policymakers could dramatically improve retirement security at little cost to taxpayers. Professor Batchelder made the case for making defaults smarter, and the normative, legal, and practical challenges to such reforms.
Lily Batchelder is professor of law and public policy at NYU School of Law and an affiliated professor at the NYU Wagner School of Public Service. From 2010 to 2015, she was deputy director of the White House National Economic Council and deputy assistant to the President. Batchelder received an AB in Political Science from Stanford University, an MPP in Microeconomics and Human Services from Harvard's Kennedy School, and a JD from Yale Law School.
The Political Economy of Aging speaker series is a forum for academics and practitioners to share and engage in cutting edge research in social policy and the political economy of aging. The series is designed to forge interdisciplinary connections and examine how to progressively manage an aging society. The series is sponsored by SCEPA's Retirement Equity Lab, led by economists and retirement experts Teresa Ghilarducci and Tony Webb.