Happy Friday, PLANSPONSOR readers! In this week’s edition, we highlight financial wellness and participant education. A Security Benefit study found Millennial teachers are searching for education about investing, while a report from Ascensus deems younger savers as the generation most likely to meet their retirement goals. A high number of employers are measuring financial readiness with their employees, and at the same time another set of plan sponsors is evaluating how questions of longevity tie to participant education. A Hearts & Wallets study analyzes why participants ignore education when facing daunting financial obstacles. All this and more in this week’s issue of PLANSPONSOR Weekend.
While a majority cite credit card and student loan debt as obstacles to reaching financial goals, Millennial educators are paying attention to retirement savings.Read more >
Workers younger than 35 are realizing they need to start saving now, according to Ascensus; however, only 30% are on track to meet their retirement savings goals.Read more >
In addition, to help employees reduce their debt stress and maximize their retirement plan savings, more employers are developing financial wellbeing initiatives, Arthur J. Gallagher & Co. found.Read more >
BMO Wealth Management U.S. says individuals should know to plan for living beyond the average life expectancy and what medical expenses to expect, among other things.Read more >
A study found the top financial tasks individuals need help with include choosing when to retire, choosing appropriate investments and developing a strategy to withdraw from multiple accounts.Read more >
