Financial Wellness By the Numbers

A review of how many recordkeepers are accommodating wellness offerings on their platforms, what kinds of programs are available and who is providing them.

Share of Recordkeepers Offering Integrated Financial Wellness Programs

  • Yes
  • No
Source: 2022 PLANSPONSOR Recordkeeping Survey

What's Available?

The share of recordkeepers offering programs on different financial wellness topics.

Personal and Household Budgeting & Expense Tracking
47.5%
Consumer Debt Management
46.3%
Student Loan Repayment
37.5%
Emergency Savings
46.3%
Financial goal setting*
47.5%
Financial crisis management
30.0%
Source: 2022 PLANSPONSOR Recordkeeping Survey

*Including non-retirement goals like saving for college, first home, etc.

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Including collections, unemployment and certificates required for filing bankruptcy.


In-Plan Advice

How are plans providing financial and investment advice to participants.

A planner or adviser outside the plan*
57.5%
Third-party provider
30.8%
Advice and tools from plan recordkeeper
43.8%
No advice
13.8%
Other advice
3.0%
Source: 2022 PLANSPONSOR Recordkeeping Survey

*One-on-one onsite meetings.

Independent of plan recordkeeper.


What's Covered?

The kinds of financial and investment advice available to participants from their plans and the share of plans that offer them.

Saving strategies
77.3%
Budgeting tools
64.0%
Financial markets & investing basics
68.6%
Credit/debt management*
35.0%
Student loans/debt management
27.0%
Home buying
20.7%
College savings
37.4%
Tax/estate planning
38.5%
Retirement health care costs
46.4%
Social Security claiming strategies
34.7%
Rolling in past balances
53.6%
Rollover options§
49.2%
None
36.6%
Source: 2022 PLANSPONSOR DC Plan Benchmarking

*Excluding student loans/debt
Including savings options
For newly hired employees.
§For terminated/separating employees.

Plan does not offer education on these topics.

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