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
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.

Social Security Administration Announced COLA for 2020

Employees not only need basic education, but they need to know how to include Social Security in their retirement income strategy.

Survey Reveals Emerging Health Benefit Cost-Saving Measures

Employers are encouraging the use of biosimilars instead of specialty pharmacy products, creating an environment that makes it clear and easy for employees to opt for high-value services, and engaging effective programs to help manage anxiety and stress.

Millennium Trust Helps Small Businesses Select a Retirement Plan

The Retirement Savings Selector Tool for Small Businesses was created to help small businesses identify a retirement savings option that may be a fit for their business by answering a few quick and easy questions.

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

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