|
| Benefits & Administration |
| Employees Leaving Wellness Incentives on the Table |
| Many employees aren’t taking full advantage of incentive-based
health improvement programs and earning all of their incentives. Fewer than
half (47%) of employees earned their full incentive amount in 2014, while 26%
earned a partial amount, according to the latest survey about wellness programs
from Fidelity Investments and the National Business Group on Health (NBGH). “The
next challenge for companies is to continue to find ways to increase
participation in these programs and encourage employees to earn the full
incentive amount available to them, which will contribute to their financial
well-being as well as their physical health,” says Robert Kennedy, Health and
Welfare practice leader with Fidelity’s Benefits Consulting business in Boston.
“It starts with design and using data to be sure programs are relevant and
match the needs of employees,” Kennedy tells PLANSPONSOR.Read more > |
|
| Products, Deals & People |
| In an effort to combat the uncertainty of income
in retirement, Principal Financial is launching a program to build confidence
and reduce stress among participants as they make the transition to and through
retirement.Read more > |
|
| Sponsored message from Wells Fargo |
Build a stronger plan lineup
Order Three Pillars to Plan Construction today.Read more > |
|
| Industry Voices |
| Industry Voices: Addressing Post-Retirement Risk |
| In recent years a number of investment products
have become available that can help provide some element of security for
participants in the post-retirement withdrawal process. Products have been
introduced that offer far more flexibility than conventional life annuity
contracts. For example, some permit the
participant to make an emergency withdrawal of more than the annual amount of
income otherwise available, and some also provide a death benefit equivalent to
the remaining asset base in the product. The products typically offer a
lifetime withdrawal guaranty feature with an element of guaranteed return on
the undistributed withdrawal base. Although the market is in a state of
constant evolution and refinement, existing products have reached a sufficient
level of sophistication to deserve careful consideration by a defined
contribution plan sponsor wishing to offer a valuable option to assist
participants in the draw-down phase.Read more > |
