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
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage

Among other things, the RISE Act would encourage retirement savings by allowing plan sponsors to offer small financial incentives to motivate employee participation.

TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
December 17, 2013 (PLANSPONSOR.com) – Who/what were the residents on the Island of Misfit Toys in “Rudolf the Red-Nosed Reindeer?”
Working Past Age 65 May Seem Like a Great Idea …

… but the prospects may vary, based on education, race and gender, says CRR.

Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income

Eighty-one percent of respondents to a survey indicate they are at least somewhat likely to prefer a retirement plan that substitutes guaranteed income for safe investments such as bonds.

2021 Recordkeeping Survey

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

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