Laraine McKinnon

Known Laraine McKinnon

Behavioral finance and investment theory tell us exactly how to design the 401(k) plan to enable retirement readiness for millions of employees. So why aren't most 401(k) plans optimized? Known: How to Create a Great 401(k) explores that question, bridging insights from academia with real world organizational behavior to provide practical advice for plan sponsors and advisors looking to drive decisions to improve retirement outcomes. Author Laraine McKinnon brings her unique perspective to this hard-to-solve problem, drawing upon her experience as a 401(k) plan sponsor, decades of experience in retirement investing and hundreds of hours of strategic discussions with many of the largest 401(k) plan sponsors in the US. McKinnon provides compelling proof points to three overarching concepts: Why we must grow savings, drive diversification, prevent leaks and reduce unnecessary risks in the 401(k) How we can implement learnings from behavioral science to influence decision-makers and improve the 401(k) structure Why improving 401(k) plans in this way is a "win-win-win" (for the participant, their employer, and America)