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Retirement Planning
Chapter 5: Profit-Sharing Plans/QACAs & CLIENT PSYCHOLOGY
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Chapter 5: Profit-Sharing Plans

QACAs & CLIENT PSYCHOLOGY

01.Core Concepts

• QACAs “nudge” the employee in the direction of saving for retirement (while maintaining ability to opt out). • When a large number of options are presented or choices are complex, people tend to maintain the status quo. • Choice overload can be avoided by limiting the number of options presented, or through the use of default options (such as a QACA).