PLANSPONSOR Weekend Newsdash
Week ending December 14th, 2018
Happy Friday! This week we’ll be talking about financial wellness and participant education. Benefits consulting firm Buck explains how financially and physically fit employees can improve the workplace environment, job satisfaction and employee retention in a recent survey conducted with over 250 employees. Next, discover the recent trends to heighten your plan design. MediKeeper says plan sponsors who stay up-to-date with these trends remain relevant in the always competitive industry. Also, an Employee Benefit Research Institute (EBRI) report discloses the challenges employers face when offering financial wellness features; Corporate Insight reports many employees do not have employer-sponsored financial wellness programs, but believe their employer should offer one; and  UnidosUS and the National Institute of Retirement Security discuss the lack of retirement readiness with Latino workers. All this and more on this edition of PLANSPONSOR Weekend.
Editor's choice
Wellness Programs That Combine Health and Finance Seen as Essential
Findings in a Buck survey demonstrate that a failure to creatively invest in employee wellness can result in many adverse consequences for the success and sustainability of a business.Read more >
Tips for Improving Employee Wellness Programs
MediKeeper suggests using available data to better personalize programs, using social interaction to encourage wellness program participation and making virtual programs available to reach more of the workforce.Read more >
Most Employers Don’t Consider Their Financial Wellness Programs ‘Holistic’
Employers surveyed by the Employee Benefit Research Institute (EBRI) noted that they face many challenges in offering financial wellness initiatives.Read more >
Data and Research
Reported Lack of Knowledge Indicates Need for More Financial Wellness Programs
Of the 1,544 employees surveyed by Corporate Insight, a mere 221 (or 14%) indicated that their employer offers programs or resources to help improve financial well-being.Read more >
Data and Research
Part-Time Plan Eligibility Would Benefit Latino Workers
In addition, state-backed retirement savings plans can assist with providing quality savings opportunities to working Latinos who are not covered by an employer-sponsored retirement plan.Read more >
2021 Target-Date Fund Survey
The DOL Has Begun Retirement Plan Cybersecurity Audits

Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.

2020 Recordkeeping Survey
Differences Between Safe Harbor and Traditional DC Plans

The primary distinction is that sponsors can design safe harbor plans to avoid having to perform nondiscrimination and top-heavy testing.

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.

Editorial: Alison Cooke Mintzer


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