In defining default options, there seems to be consensus on a few general criteria such as 17 avoiding opt-in clauses (which imply that the worker is not enrolled unless he or she asks) and relying instead on opt-out clauses or some kind of more active decision-making; offering only a small number of basic investment choices, while being ready to offer a wider choice to those workers that ask for it; and setting employee contribution rates that rise slowly over time.
There is no simple recipe for appropriate policy in this context, and the FOMC is particularly attentive to the need to clearly describe the policy framework we are using to meet these challenges.