After 30 years at Principal, researcher Tracey Foley knows how to ask—and parse—the right questions. Today we dig into what automaticity is doing to participation, in helpful and not-so-helpful ways. Hint: maybe more, not less.

In this wide-ranging conversation, Angela Antonelli, Research Professor and Executive Director of the Georgetown University Center for Retirement Initiatives at the McCourt School of Public Policy., reflects on the rapid expansion of state Auto IRA programs, shares why small businesses remain both the greatest challenge and greatest opportunity, and explains how tools like alternative assets and the Saver’s Match could reshape retirement outcomes for millions. She also looks ahead to what’s next for CRI’s research and the future of retirement innovation.

David Teykaerts, Executive Director of CalSavers, sat down with us to share what’s happening in the country’s largest Auto IRA program. We talked program growth, lessons from employer engagement, how CalSavers positions itself in California, and what’s top of mind in 2025. The big takeaway: implementation matters, and scale brings both opportunity and responsibility.