Table 1.

Experimental design overview

Cue type	Treatment	Year sent	Eligible population	Cue text added to emails
Anchor	1% anchor	2009	Employees on pace to contribute $5,000 – $16,499 to 401(k) in 2009	For example, you could increase your contribution rate by 1% of your income and get more of the match money for which you’re eligible. (1% is just an example, and shouldn’t be interpreted as advice on what the right contribution increase is for you.)
	3% anchor	2010	Employees on pace to contribute $6,000 – $16,499 to 401(k) in 2010	For example, you could increase your contribution rate by 3% of your income and get more of the match money for which you’re eligible. (3% is just an example, and shouldn’t be interpreted as advice on what the right contribution increase is for you.)
	10% anchor	2010	Employees on pace to contribute $6,000 – $16,499 to 401(k) in 2010	For example, you could increase your contribution rate by 10% of your income and get more of the match money for which you’re eligible. (10% is just an example, and shouldn’t be interpreted as advice on what the right contribution increase is for you.)
	20% anchor	2010	Employees on pace to contribute $6,000 – $16,499 to 401(k) in 2010	For example, you could increase your contribution rate by 20% of your income and get more of the match money for which you’re eligible. (20% is just an example, and shouldn’t be interpreted as advice on what the right contribution increase is for you.)
Savings threshold	60% threshold	2009	Employees on pace to contribute < $16,500 to 401(k) in 2009	You can contribute up to 60% of your income in any pay period.
	$3,000 threshold	2010	Employees on pace to contribute < $3,000 to 401(k) in 2010	The next $x of contributions you make between now and December 31 will be matched at a 100% rate. [x is the difference between $3,000 and the recipient’s year-to-date match-eligible contributions]
	$16,500 threshold	2010	Employees on pace to contribute < $3,000 to 401(k) in 2010	Contributing $y more between now and December 31 would earn you the maximum possible match. [y is the difference between $16,500 and the recipient’s year-to-date match-eligible contributions]
Savings goal	$7,000 goal	2010	Employees on pace to contribute $3,000 – $5,999 to 401(k) in 2010	For example, suppose you set a goal to contribute $7,000 for the year and you attained it. You would earn $500 more in matching money this year than you’re currently on pace for.
	$11,000 goal	2010	Employees on pace to contribute $3,000 – $5,999 to 401(k) in 2010	For example, suppose you set a goal to contribute $11,000 for the year and you attained it. You would earn $2,500 more in matching money this year than you’re currently on pace for.