PLANSPONSOR Weekend Newsdash
Week ending August 10th, 2018
In order for employees to understand their retirement plans, easy-to-understand education must be provided. Traditionally, education by retirement plan sponsors has discussed retirement plan features and investing. However, as more Americans struggle to find the money to save for retirement, overall financial education is becoming more popular among sponsors, with debt being a serious concern for employees. Retirement plan sponsors can turn to financial wellness providers, their recordkeeper or their plan adviser for help with providing financial wellness education. This edition of PLANSPONSOR Weekend focuses on financial wellness and participant education.
Editor's choice
Data and Research
Employees Want Financial Education and Employers Are Stepping Up
According to employers, the number one financial challenge facing employees is credit card and other debt (reported by 70% of employers). The International Foundation of Employee Benefit Plans’ “Financial Education for Today’s Workforce: 2018 Survey Results” reportsays 63% of employers currently provide financial education for their workforce, and an additional 19% are considering such education for the future.Read more >
Products
WebMD Gets Into Financial Wellness Market
A new solution helps employees become better educated about their financial challenges through personalized skill building and action plans that reduce money-related stress and motivate change.Read more >
Data and Research
Employees Overestimate Knowledge About HSAs
According to Bank of America Merrill Lynch’s 2018 Workplace Benefits Report, health care costs are a huge blind spot for employees when it comes to increasing financial wellness. The newly published report suggests that employees understand most of the inputs that directly affect their financial wellness, and yet the majority ignore one of the biggest factors when they are setting long-term goals and savings priorities—health care costs. In fact, just 7% of employees surveyed identified health care as “an important building block of financial wellness.”Read more >
Administration
Taking View of Employee Helps With Wellness Program Engagement
In a webcast sponsored by Benz Communications, the firm’s Engagement Strategist Megan Yost offered tips to better engage individuals in financial and health wellness.Read more >
Data and Research
Millennials Need Urging to Invest in the Market
Ryan Bailey, head of the Retail Banking Group, Bank of the West, offers tips for plan sponsors to help educate Millennials about the importance of investing.Read more >
MOST POPULAR STORIES
2021 Plan Sponsor of the Year
PLANSPONSOR is pleased to announce the 2021 Plan Sponsor of the Year finalists.
How to Effectively Measure Retirement Plan Success
It’s important for plan sponsors to define plan goals and what they are going to measure, and the defined metrics should be things they can influence.
2020 Recordkeeping Survey
A Checklist for Retirement Plan Committees
Experts discuss what main facets of a retirement plan that a committee should cover in its quarterly meetings.
Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit

Among other things, the lawsuit accused Reliance Trust Co. of selecting funds for the plan that would benefit itself.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: advertise@strategic-i.com

Subscribe to NewsDash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund