Wednesday, January 6th, 2021 A topical newsletter from PLANSPONSOR Financial Wellness Extending benefits in the workplace to improve employees’ overall financial wellness is now a top goal for many employers. The COVID-19 pandemic further highlighted the need employees have to improve their financial literacy and manage their financial obligations. Employers are in a unique position to help. This first edition of PLANSPONSOR Spotlight offers information employers can use to craft effective financial wellness benefits for their workforces. Benefits Best of PSNC 2020: The Future of Student Loan Benefits and What to Expect in 2021 Panelists said encouraging better financial wellness can go a long way to helping workers manage their student loans. Benefits Best of PSNC 2020: Structuring Your Plan for Different Participant Needs Plan sponsors should not forget the needs of older workers when offering financial wellness and emergency savings help. Benefits What Happens When Student Loan Payment Deferral Ends? Employers can steer employees to help when they have to restart student loan debt repayments, and there is hope that more government help is on the horizon. Benefits Financial Wellness Programs Should Be Customized for Women Interrupted careers, greater longevity and other factors call for unique help for women in employer financial wellness programs, a paper from the Retirement Advisor Council suggests. Benefits Financial Wellness Programs Need to Include a Way to Measure Success There are specific metrics that can be measured via data and employee and employer surveys. Benefits Congress Extends Time Employers Can Help Pay Employee Student Loans It is expected that employers are now more likely to implement the tax-free payments toward employees' student loans. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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