PLANSPONSOR Weekend Newsdash
Week ending June 28th, 2019
It’s true that when participants fully understand their retirement plans and options such as rollovers it can help them be more prepared for retirement. However, the communication that has garnered much attention recently is about financial wellness. Our columnist Michael Barry, president of October Three (O3) Plan Advisory Services LLC, predicts the future of the retirement plan industry will be about financial wellness. Fact is, employees will have a hard time saving for retirement if they don’t have their financial house in order. But, despite employers’ efforts, a study finds employee perceptions of financial wellness have not improved. Financial wellness programs need to be more personalized, and employee engagement with these programs needs to improve. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Industry Voices
Barry’s Pickings: The Future Will Be About Financial Wellness
There is more to life than saving for retirement, says Michael Barry, president of October Three (O3) Plan Advisory Services LLC, and he foresees a new model where financial wellness is implemented across a rich employee dataset exploiting the efficiency of artificial intelligence.Read more >
Benefits
Employee Perceptions of Financial Wellbeing Haven’t Improved
Despite that, employees value financial wellness programs and Alight Solutions makes suggestions for improving them.Read more >
Benefits
Financial Wellness Programs Need to Become Personalized
Financial stress is on the rise in all generations, indicating that financial wellness programs are missing the mark, according to PwC. A new survey report from the firm suggests many employers have simply relabeled existing resources as “financial wellness programs.”Read more >
Administration
PSNC 2019: Engaging Employees With Benefits Programs
Plan sponsors are meeting participants ‘where they are’ to promote financial wellness.Read more >
Data and Research
Financial Wellness Programs Can Benefit Employers in Several Ways
Companies stand to benefit in numerous ways by offering a financial wellness program, according to a new study released by Morgan Stanley and conducted by the Financial Health Network. Financial wellness programs reduce employee stress, improve retention and engagement and help a company stand out in the marketplace.Read more >
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