PLANSPONSOR Weekend Newsdash
Week ending June 8th, 2018

Happy weekend, PLANSPONSOR readers! This week we’ll be focusing on financial wellness and participant education. According to a Financial Finesse survey, participants repeatedly engaging in financial wellness programs offered by their employer are more likely to be on track for retirement and have higher confidence in their investments. Next, some companies are executing new participant education communications—behavioral economics. The education method merges psychology and economics to understand specific decisions, says the International Foundation of Employee Benefit Plans (IFEBP). Employees are also crediting health savings accounts (HSAs) and wellness programs for empowering them to make better health and financial decisions, and employers are looking to offer total well-being programs rather than solely physical. All this and more on this edition of PLANSPONSOR Weekend.

Editor's choice
Benefits
Financial Wellness Is a Process
Compared with new users, repeat users are 24% more apt to be on track for retirement and 21% more apt to have confidence in their investments, Financial Finesse research finds.Read more >
Benefits
Behavioral Economics Not Just Useful for Retirement Plan Nudges
Some companies already employ the theories of behavioral economics in various strategies that push their workers to make healthier decisions, says the International Foundation of Employee Benefit Plans.Read more >
Benefits
CDHP, HDHP Participant Consumerism Doesn’t Improve Over Time
However, EBRI found plan participants who have owned a health savings account (HSA) for 10 or more years are very likely to report (71%) that having an HSA has empowered them to make better health and financial decisions.Read more >
Benefits
Employees Say Employer Wellness Programs Are Helping
Fifty-three percent of people with access to wellness programs said the initiatives have made a positive impact on their health, which can save both employees and employers money.Read more >
Benefits
More Employers Looking to Revamp Well-Being Programs
Broadening the focus of traditional, physically focused wellness programs to become more holistic (adding financial, social & mental well-being) is leading more employers to ask about a platform/hub to combine all of their benefits initiatives, a survey found.Read more >
MOST POPULAR STORIES
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.

2021 Target-Date Fund Survey
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.

TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

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

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