Save More Tomorrow, or SMarT, is a pension programme designed by Richard Thaler and Simon Benartzi. The programme has four main features. To overcome hyperbolic discounting, employees are approached about increasing their pension contribution rates, considerably before a scheduled pay increase. If employees join the program, the contribution is increased with the first pay check after the pay rise to mitigate the perceived loss aversion of a cut in take home pay. Employees are defaulted to continually increase their contributions with each pay rise, inertia and status quo bias work to keep people in the plan, however they are free to opt-out at any time. The SMarT plan takes precisely the same behavioral tendency that induces people to postpone saving indefinitely (i.e., procrastination and inertia) and puts it to use. Think about this policy in terms of the FORGOOD framework.
The below interpretations of the seven considerations are suggestions and different people will think of these differently.