Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 25th, 2015
Benefits & Administration
Incentives Bring Needed Participants to Wellness Programs
Financial incentives appear to be a crucial factor in bringing unhealthy workers into workplace wellness programs, according to an analysis by the Employee Benefit Research Institute (EBRI). Using administrative data from a large employer that provided anonymous participant information, EBRI analyzed the impact financial incentives had on the first-time participants in the employer’s wellness programs. EBRI found that, in general, individuals who first completed a health risk assessment (HRA) or biometric screening in the two or three years after financial incentives were offered were less healthy than early adopters. Moreover, prevalence rates of diabetes, high blood pressure and high cholesterol were all higher in the post-incentive groups than in the pre-incentive groups.Read more >
Ask the Experts
Is There a Restriction on Number of Investments?
“We have hundreds of investments in our Employee Retirement Income Security Act (ERISA) 403(b) retirement plan—NOT a brokerage window, but hundreds of actual investment options available directly to participants—which I feel is too many. Is there anything in ERISA or related Department of Labor (DOL) guidance that restricts the number of plan investments?”Read more >
Sponsored message from
A REVOLUTIONARY RESOURCE: – Instant Access to Answers Quickly find answers to your ERISA questions with Our revolutionary platform combines outstanding search tools and an intuitive interface. Sign-up for a free trial. Read more >