The National Center for Policy Analysis and The Retirement Security Project will host a joint briefing to outline important pension reforms on which both right and left can agree. Empirical research has demonstrated the substantial value of automatic enrollment plans and diversified portfolios in defined contribution pension plans like 401(k)s and 403(b)s. To expand the use of plans with these features, the government should:

• Remove obstacles to the adoption of automatic enrollment plans by clarifying that they are permissible under state labor laws.
• Reform non-discrimination rules to provide preferential relief to plans that feature automatic enrollment and set an adequate minimum contribution rate.
• Encourage firms to offer default investments in appropriate broadly diversified equity and bond index funds, including clarification that such investments satisfy fiduciary standards.
• Allow plans to disburse small account balances to employees who decide to opt out soon after the automatic enrollment begins, without a penalty.