Research indicates that decision makers behave more rationally as the stakes increase. Because of the safety net provided by Social Security and defined-benefit pension plans, the stakes associated with saving decisions have often been relatively low. However, as the importance of such retirement savings plans as 401(k)s increase, the stakes may also increase. Default options should be designed, therefore, to account for the heterogeneity of households and their perception of the stakes. Decision makers should also be better educated regarding retirement saving to help them make better choices about contributions and asset allocation. A range of paternalistic choices combined with an economical opt-out option probably strikes a good balance for default options.