Behavioral Finance: Boost Retirement Plan Participation
Workshop 3 | Thursday, May 11 | 10:15 - 11:45
Combining the principles of psychology and money, behavioral finance demonstrates how human beings are prone to make mistakes relating to wealth and savings. People know they should be saving for their future, but often resist doing so because of inertia, the desire for immediate gratification, and loss aversion. This presentation, led by Barbara Appleby and Kristin Guibord from BerryDunn Wealth Management in Portland, focuses on how these very foibles in human decision making and resistance to immediate savings can be utilized to both increase and optimize employee participation in their employer-sponsored retirement plans. It will provide employers and HR personnel with the behavioral insights to improve the design of plans and to help employees make better decisions relating to money and their financial future.
Approved for SHRM credit and HRCI general (HR) credit.