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week ending December 11th, 2020
Perhaps employee financial wellness has never been more at the front of employers’ minds as now. And, research finds employees are eager for help. With the financial effects of the pandemic driving home the importance of having emergency savings and debt levels increasing, the retirement plan industry realizes that employees need to be financially well in order to save for retirement. This edition of PLANSPONSOR Weekend includes information to help plan sponsors as they make decisions about financial wellness programs for 2021.
Editor's Choice
Data and Research
Majority of Employers Looking at Revamping Retirement Benefits
They are also giving serious thought to implementing emergency savings features and allowing participants to choose between a variety of benefits, Willis Towers Watson found in a survey.
Financial Wellness Programs Should Be Customized for Women
Interrupted careers, greater longevity and other factors call for unique help for women in employer financial wellness programs, a paper from the Retirement Advisor Council suggests.
Wellness Strategies
Dangers of Debt
Participants must find their financial footing to save for retirement.
What Happens When Student Loan Payment Deferral Ends?
Employers can steer employees to help when they have to restart student loan debt repayments, and there is hope that more government help is on the horizon.
The Future of Student Loan Benefits and What to Expect in 2021
Encouraging better financial wellness can go a long way to helping workers manage their student loans.
Popular Reads
2021 Target-Date Fund Survey
Rush of Litigation Against Retirement Plans Expected to Continue
One insurer says the more than $1 billion in settlements thus far could make fiduciary insurance a thing of the past.
Essential Considerations for DC Plan Investment Lineups
The purpose of a retirement plan and the demographics of its participants will help plan sponsors decide what types of investments they need to use to take participants from accumulation to decumulation.
2020 Recordkeeping Survey
Considerations for 2022 Health and Voluntary Benefit Offerings
There are new ways to think about benefits offerings and cost negotiations following the experience of the pandemic.
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