Retirement Guardrails

How Proactive Fiduciaries Can Improve Plan Outcomes

Ian Ayres (Yale University, Connecticut), Quinn Curtis (University of Virginia)

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Hardback

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English

Cambridge University Press
22 June 2023

Public finance; Banking law; Pensions law; Retirement

Scores of lawsuits have pushed retirement plan sponsors to shorter, easier-to-navigate menus, but – as Ian Ayres and Quinn Curtis argue in this work – we've only scratched the surface of retirement plan design. Using participant-level plan data and straightforward tests, Ayres and Curtis show how plan sponsors can monitor plans for likely allocation mistakes and adapt menus to encourage success. Beginning with an overview of the problem of high costs and the first empirical evidence on retirement plan fee lawsuits, they offer an overview of the current plan landscape. They then show, based on reforms to a real plan, how streamlining menus, eliminating pitfalls, and adopting static and dynamic limits on participant allocations to certain risky assets or 'guardrails' can reduce mistakes and lead to better retirement outcomes. Focusing on plausible, easy-to-implement interventions, Retirement Guardrails shows that fiduciaries need not be limited to screening out funds but can design menus to actively promote good choices.

By: Ian Ayres (Yale University Connecticut), Quinn Curtis (University of Virginia)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 235mm, Width: 158mm, Spine: 18mm
Weight: 460g
ISBN: 9781316518632
ISBN 10: 1316518639
Pages: 180
Publication Date: 22 June 2023
Audience: Professional and scholarly , General/trade , Undergraduate , ELT Advanced
Format: Hardback
Publisher's Status: Active

Ian Ayres is a lawyer and economist. They are Deputy Dean and the Oscar M. Ruebhausen Professor at Yale Law School and a Professor at Yale's School of Management. Quinn Curtis is Professor of Law and an Economist at the University of Virginia School of Law. His work focuses on the regulation of retirement plans and investments.

Reviews for Retirement Guardrails: How Proactive Fiduciaries Can Improve Plan Outcomes

'A masterpiece of meticulous and exhaustive research … an insightfully informative, thoughtful, thought-provoking, and highly recommended contribution to personal, professional, college, and university library Contemporary Economics and Money/Finance Studies collections and supplemental curriculum studies lists.' James A. Cox, Midwest Book Review