Allianz Global Investors Center for Behavioral Finance announced today the release of Save More Tomorrow (Portfolio Penguin), authored by Shlomo Benartzi, professor and co-chair of the Behavioral Decision-Making Group of the UCLA Anderson School of Management and chief behavioral economist of the Center.

Half of Americans do not have access to a retirement saving plan at their workplace; of those who do, about a third fail to join. Those who do join tend to save too little and often make unwise investment decisions. Save More Tomorrow addresses the behavioral challenges that led to the retirement crisis – inertia, limited self-control, loss aversion and myopia – and transforms them into behavioral solutions.

“This book applies the relatively new field of behavioral finance to 401(k) plans with the ultimate goal of improving retirement outcomes,” said Benartzi. “As we recover from market conditions that left many Americans uneasy about their ability to secure a comfortable retirement, it is critical that plan sponsors use lessons from behavioral finance to make it easier for their employees to save, save more and save smarter.”

“Save More Tomorrow comes at a critical time in America’s looming retirement crisis and puts a stake in the ground as the first comprehensive application of behavioral finance to improve retirement outcomes,” said Cathy Smith, co-director of Allianz Global Investors Center for Behavioral Finance. “We are proud of Professor Benartzi’s contributions to the Center and pleased to sponsor the publication of his first book.”

The Allianz Global Investors Center for Behavioral Finance was founded in 2010 with the goal of turning academic insights into actionable ideas and practical tools that financial advisors and plan sponsors can use to help their clients and employees make better financial decisions. The Center carries on the Allianz Global Investors commitment to innovative thinking and seeks to stimulate dialog among business, government and academic leaders on financial issues of importance to the world at large.

Save More Tomorrow can be pre-ordered at all major retailers.

For more information about the book, visit befi.allianzgi.com/SaveMoreTomorrow

About Allianz Global Investors

Allianz Global Investors is a global asset management group, committed to helping clients achieve sustainable success. We draw on the intellectual capital of our diverse family of investment managers – each with its own distinctive philosophy and culture – to provide clients with a choice of innovative investment solutions, including separate accounts, mutual funds, managed accounts, closed-end funds, 529 plans and retirement offerings. We are part of the Allianz Group, one of the world’s leading integrated financial services providers.