“Financial stress distracts employees and can hurt an organization’s bottom line by lowering productivity, increasing turnover and harming workers’ health,” warns Elias Vogen, Securian’s director of group insurance client relationships.
Rising health care costs and the advent of digital tools has made health care options more accessible and pushed the benefits industry toward a consumer-centric and retail-like model, to both the benefit and detriment of employees.
Survey data shows a sizable group of retirement plan participants have lowered their contributions in the last year to address debt, unexpected bills, health care costs and other challenges.
A new analysis from Questis takes a striking look back at the recent and not-so-recent development of workplace financial education in the United States; quotes from figures throughout history show how the problem of poor financial literacy has been around since the beginning of the American Republic.
Data shows about one-fourth of nonprofit plan sponsors are not aware of what comprises a formal fee policy statement, and half of respondents are unfamiliar with the tenants of fee levelization.
Until the final rule’s publication in the Federal Register, the exact details and length of the second enforcement delay will remain unclear, but industry reports are widely discussing an 18-month delay.
The firm has appointed a director of bilingual employee education, tasked with delivering more culturally diverse education strategies and collateral to plan participants.
Forty-four percent of middle-income women say they cannot afford to save for retirement, compared to 14% of men.
Since the beginning of 2016, 17 firms within the Retirement Plan Monitor coverage set have introduced new retirement readiness resources to participant sites—and 12 of those firms have done so in this year alone.
The acquisition of CapTrust by CAPTRUST fits the pattern of the 26 acquisitions the firm has conducted in the last decade.
An effective financial wellness program is not just about financial literacy; it’s about building the employee’s confidence in tackling financial tasks, suggests a study by Mercer.
A study finds that Americans now need to save more for a comfortable retirement than in the past, and sound education, as well as plan design, can drive this behavior.