| | Benefits & Administration | | Voluntary Benefits Can Be Part of Overall Financial Wellness Strategy | | As more employers consider offering financial wellness programs to employees, they can reframe many types of employee benefits as broader financial wellness help, said Heather Coughlin, the U.S. solution leader for financial wellness at Mercer, in a webcast sponsored by Mercer and hosted by the Society for Human Resource Management (SHRM). Student loan debt, overall debt, health care costs and retirement savings are just a sample of the financial issues and stresses that employees are dealing with, she noted. “How, outside of defined contribution [DC] plan loans, have employers helped with employee debt and other financial issues?” she asked. Brian Russell, a principal consultant with Mercer Health & Benefits and the national leader for the Voluntary Benefits Solution Development Center, said employers are leveraging voluntary benefits to address employee financial needs.Read more > | | Three in Ten Baby Boomers Haven’t Prepared a Retirement Budget | | Seventy-three percent of non-retired Americans aged 50 and older expect to delay retirement, The NHP Foundation, a not-for-profit provider of affordable housing, learned in a survey of 1,000 Americans in that age group. Thirty-one percent haven’t prepared a retirement budget. Sixty-five percent have not budgeted for unforeseen health-related expenses. There is a disconnect between what kind of lifestyle Boomers expect to lead in retirement and how poorly they are preparing for retirement, NHP found.Read more > |
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