Wednesday, October 5th, 2022 A biweekly topical newsletter from PLANSPONSOR Financial Wellness A spotlight on employee financial needs, as well as trends and practices in employer financial wellness programs. SPONSORED AD Data and Research Survey Shows Drop in Retirement Confidence Since February A new Bank of America report reveals a recent downward trend in employees’ retirement confidence and financial wellness. Opinions Personalization and the DC System A typical platform might use age and salary to generate investment recommendations. What additional factors could lead to more customized solutions? Participants Funding the Future Self To their detriment, plan participants often fail to opt in to in-plan financial advice—but that may be changing. Data and Research Plan Sponsors and Participants Cite Different ‘Important’ Benefits Although attention to workplace benefits has increased among employers, a new Transamerica Institute survey reveals a chasm between the benefits they value and those that workers prize. Data and Research Employers Face ‘Tension’ Between Health Care And Financial Wellness For employers seeking to limit health care costs, raising plan deductibles could be the path of least resistance, according to an EBRI issue brief. Insights ‘Pay Me Later’ The new BNPL programs could further erode some participants’ financial wellness. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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