and nppa, that was the -- >> let me stop you though. >> sure. >> you heard mr. teaberry talk about how many people know how to invest or understand. >> right. >> 14%. so how in the world could anybody sit up here and sensibly believe that we can design a system that says we're going to give all of you choice but only 14% of them understand what in the world they're in? >> most people don't take advantage of that choice. they'll stay where you put them. if you automatically enroll them, they'll stay in your default investments. so i think the key is to having a secure and appropriate default investment and, again, there were changes made in ppa and i think there's been a recent study. >> does that mean then that the corporation, the company, the small business or whoever, has certain places they could put the money that's safe? they will be restricted as well or can they do whatever they want? >> they choose the provider but the type of investment that is the default investment is defined. it's, you know, like a target date fund or, you know, you could, frankly t

nppa -- >> you heard him talk about how many people know how to invest or understand. 14%. how in the world can anybody sit up here and sensibly believe that we could design a system that says we are going to give all of your choice, but only 14 term know what there is an? >> most people do not take advantage of that. i think the key is still having a six year and appropriate default investment. there are changes made. i think there has been a recent study. >> does that mean they have certain places they can put the money tax can they do whatever they want? >> they choose the provider. the type of investment is a find. it is like a target day fund. there is ample evidence that what ever you say is where most people are going to end up putting their money. >> they could put it into something that is judged to be by whom? who would say this is a safe investment. >> you define the parameters. >> the treasury will ultimately put the blessing. they will bless the company that will make these investments. >> it would be that the sponsor would be the one that is using their invest