Modern financial planning is dominated by one topic: retirement planning. However, in spite of extensive study and wide attention, retirement savings rates remain perplexingly low and remarkably resistant to policy intervention. One approach that does seem to work is employer-based education. Retirement planning is a complex endeavor, requiring savers to form realistic expectations about lifetime income, years of work, investment returns over time, and consumption levels in retirement—and then to construct long-term savings plans based on those expectations.