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
Benefits
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 >
Benefits
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 >
Benefits
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 >
MOST POPULAR STORIES
AT&T Sued Over Calculation of Early Retirement Benefits

The plaintiffs say the plan’s terms reduce benefits using “Early Retirement Factors” and “Joint and Survivor Annuity Factors” which result in plan participants receiving less than the actuarial equivalent of their vested accrued benefit, as required by ERISA.

Congressional Leaders Want SECURE Act Passage in 2019

Based on the conversations industry advocates are having in Washington, none of the leadership in the Senate or the House opposes passage of the SECURE Act.

Mechanics of Implementing a Sidecar Savings Account
Keeping retirement plan contributions rolling in while also allowing employees to save for emergencies.
Breaking Free From Interest Rate Bind on DB Funding
The long-running low interest rate environment has created DB plan funding challenges, but plan sponsors can take steps to mitigate them.
Principal Announces Key Platform Decisions in Wells Fargo Integration

Principal and Wells Fargo leadership have revealed their technology plans for serving the nonqualified and employee stock ownership plan sides of the combined business.

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

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