The paper "Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving" by Richard H. Thaler and Shlomo Benartzi explores the use of behavioral economics to increase employee savings in defined contribution plans. The authors propose a prescriptive savings program called Save More Tomorrow™ (SMarT), which allows employees to commit to increasing their future salary increases towards retirement savings. The program is designed to address issues such as bounded rationality, self-control, procrastination, and loss aversion. The paper reports on three implementations of SMarT, showing high participation rates, significant increases in saving rates, and positive impacts on savings adequacy. The authors conclude that SMarT can effectively increase employee savings and potentially contribute to raising the U.S. personal savings rate.The paper "Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving" by Richard H. Thaler and Shlomo Benartzi explores the use of behavioral economics to increase employee savings in defined contribution plans. The authors propose a prescriptive savings program called Save More Tomorrow™ (SMarT), which allows employees to commit to increasing their future salary increases towards retirement savings. The program is designed to address issues such as bounded rationality, self-control, procrastination, and loss aversion. The paper reports on three implementations of SMarT, showing high participation rates, significant increases in saving rates, and positive impacts on savings adequacy. The authors conclude that SMarT can effectively increase employee savings and potentially contribute to raising the U.S. personal savings rate.