Week ending April 13th, 2018 Hello, PLANSPONSOR readers! This week we focus on financial wellness and participant education. Two surveys find retirement plan participants need reminding of certain factors to include in their retirement planning—for example, longevity, long-term care, income planning and Social Security optimization. In addition, pre-retirees need help adjusting portfolios to mitigate market volatility risks prior to retiring. Sources speak about how to create an effective financial education solution. And, Prudential has introduced a new skill for Amazon’s Alexa to help participants easily receive account information. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice Data and Research Participants’ Optimism Parallels Lack of Specific Planning While there is strong optimism concerning the equity markets and long-term growth, there is also a lack of specific planning on the key topics of income planning, Social Security optimization, health care costs and more.Read more > Investing Pre-Retirees Seemingly Unaware of What Market Volatility Can Do to Savings Nearly six in ten pre-retirees and 32% of retirees describe their primary investment strategy as focused on either “aggressive growth” or “moderate growth;” a MassMutual survey finds.Read more > Benefits One-Size-Fits-All Financial Education Missing the Mark Programs need to be individualized and include financial coaching.Read more > Data and Research Study Shows Low Level of Financial Literacy Among Americans “Low levels of financial literacy—not only [among] the young but also people close to retirement—show we need to step up the effort to promote financial knowledge across the entire population,” says Annamaria Lusardi with the Global Financial Literacy Excellence Center.Read more >
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