Happy Friday, PLANSPONSOR readers! In this week’s news there was a lot of focus on helping employees with overall financial wellness: Empower and MassMutual announced solutions to help employees with managing bills and managing credit; equity compensation plan providers spoke about how those plans can help with overall financial goals; and Bank of America Merrill Lynch shared about how a few mind tricks can get employees more engaged in saving for retirement. Speaking of wellness, a most-emailed article among readers this week concerned the Internal Revenue Service’s (IRS’) views on tax treatment on health wellness program incentives. Enjoy this edition of PLANSPONSOR Weekend!
To help preclude 401(k) participants from taking out loans or hardship withdrawals, MassMutual is making Kashable credit services available through the BeneClick! employee benefits exchange.Read more >
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.