Tag: financial wellness programs

The tool creates separate financial wellness reports for employees and their employers. 

Despite that, employees value financial wellness programs and Alight Solutions makes suggestions for improving them.

CensiblyYours designates a 3(38) investment adviser to assist plan sponsors and offers participants access to the financial education platform Edukate.

My Learning Center suggests a curriculum and pairs it with plan level data to create key recommended actions to drive engagement and encourage financial fitness and retirement readiness for the individual.

The program features a financial fitness assessment and score, personalized curriculum based upon needs and preferences, game mechanics, and one-on-one support from an internal team of retirement consultants.

Top recordkeeper financial wellness programs provide tools that offer data visualizations, calls to action, dynamic modeling and follow-up options, according to Corporate Insight.

It is in addition to a number of other financial wellness programs that ADP already makes available.

Of the 1,544 employees surveyed by Corporate Insight, a mere 221 (or 14%) indicated that their employer offers programs or resources to help improve financial well-being.

Employers surveyed by the Employee Benefit Research Institute (EBRI) noted that they face many challenges in offering financial wellness initiatives.

UBS says beginning with this launch, it intends to deliver a comprehensive set of workplace wellness services and tools to the firm's existing corporate client base of over 10,000 clients.

When workers are continuously engaged in a financial wellness program, they increase their retirement contribution rates by 38%, and the average age at which workers could retire and replace 80% of their income moves from 68.5 to 66.96, according to Financial Finesse.

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.

Although a majority of workers thought workplace financial well-being programs would be either very or somewhat helpful in better preparing or saving for retirement, fewer than half of workers thought debt counseling or budgeting help would be helpful, EBRI found.

The four-to-five-hour continuing education (CE) course, available to retirement industry professionals on FiduciaryEducation.com, provides support in planning and incorporating holistic financial wellness benefits.

A new solution helps employees become better educated about their financial challenges through personalized skill building and action plans that reduce money-related stress and motivate change.

The second whitepaper in a series says financial wellness is centered around four core principles: financial awareness, financial health, financial security and financial inclusion.

What sets Centurion’s service apart is its focus on analyzing benefits spend and helping plan sponsors find the money to offer financial wellness to employees.