The Save More Tomorrow (SMarT) program, developed by Richard H. Thaler and Shlomo Benartzi, uses behavioral economics to increase employee savings. As firms shift from defined benefit to defined contribution plans, employees bear more responsibility for saving. Many employees save less than predicted life-cycle rates, often due to bounded rationality and self-control issues. The SMarT program allows employees to commit in advance to increasing their savings rate with future salary increases. Initial implementations showed high participation rates, with 78% of those offered the plan joining and 80% remaining in it. Savings rates increased from 3.5% to 13.6% over 40 months. The program leverages behavioral principles like hyperbolic discounting, procrastination, and loss aversion. It is designed to be simple and effective, with automatic enrollment and gradual increases in savings rates. The program has been implemented in three firms, showing significant increases in savings rates. The SMarT program is effective in increasing savings rates, even for those who initially save little. It is a prescriptive approach that helps individuals make better decisions without restricting their freedom. The program has the potential to significantly increase the U.S. personal savings rate, with estimates suggesting a 5% increase could add $125 billion annually. The study concludes that the SMarT program is a successful application of behavioral economics in increasing employee savings.The Save More Tomorrow (SMarT) program, developed by Richard H. Thaler and Shlomo Benartzi, uses behavioral economics to increase employee savings. As firms shift from defined benefit to defined contribution plans, employees bear more responsibility for saving. Many employees save less than predicted life-cycle rates, often due to bounded rationality and self-control issues. The SMarT program allows employees to commit in advance to increasing their savings rate with future salary increases. Initial implementations showed high participation rates, with 78% of those offered the plan joining and 80% remaining in it. Savings rates increased from 3.5% to 13.6% over 40 months. The program leverages behavioral principles like hyperbolic discounting, procrastination, and loss aversion. It is designed to be simple and effective, with automatic enrollment and gradual increases in savings rates. The program has been implemented in three firms, showing significant increases in savings rates. The SMarT program is effective in increasing savings rates, even for those who initially save little. It is a prescriptive approach that helps individuals make better decisions without restricting their freedom. The program has the potential to significantly increase the U.S. personal savings rate, with estimates suggesting a 5% increase could add $125 billion annually. The study concludes that the SMarT program is a successful application of behavioral economics in increasing employee savings.