view in browser | plansponsor.com

week ending June 19th, 2020 Offering a financial wellness program to employees was considered a value-added benefit, but the effects of the coronavirus pandemic revealed it as an urgent necessity. Retirement industry professionals specifically anticipate a significant shift toward emergency savings accounts as millions of workers are struggling to make ends meet. But financial wellness is not the only thing the pandemic has affected. Employees are feeling effects on their physical and mental health as well. As financial, physical and emotional and mental health can be interconnected, employers are focusing on more holistic wellness programs. In this edition of PLANSPONSOR Weekend, we offer information to help employers establish wellness programs to meet the needs of their workforce. Editor's Choice Benefits Pandemic Reveals Overwhelming Need for Financial Wellness Programs More employers will see financial wellness programs as a necessity and emergency savings as a top priority. Benefits Financial Wellness Will Be the New Priority Following the Pandemic This will be especially true for Millennials, retirement industry sources say. Opinions An Inclusive Approach to Setting (or Resetting) a Financial Wellness Program Warren Cormier, with the DCIIA Retirement Research Center, discusses how financial wellness programs can evolve to better engage employees and address their present-day realities and concerns. Benefits The Scope of Physical Wellness Programs Is Broadening The attention the COVID-19 pandemic has brought to mental and social well-being and the expansion of telemedicine services will transform employer wellness programs. Benefits Unprecedented Times Increasing Focus on Holistic Well-Being Programs Despite employers’ own financial strain, most are committed to expanding wellness programs to address increased employee needs during the pandemic. Popular Reads 2021 Health Savings Account Survey 2020 Recordkeeping Survey Compliance 403(b) Plan Sponsor Sued Over Excessive Fees and Underperforming Investments The lawsuit calls out the use of the active suite of the Fidelity Freedom target-date funds, among other things. Benefits Addressing the Haves and Have-Nots in Retirement Savings The experience during the pandemic of those with and without retirement savings has highlighted the issue of income inequality, says Ed Farrington, with Natixis Investment Managers. Data and Research Plans With ESG Options See Larger Contribution Rates Ninety percent of participants who are aware of environmental, social and governance options in their plan’s lineup say they invest in them.  Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise

©2021 Asset International Inc. All rights reserved. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850