Nearly half would like a digital retirement coach, an Accenture survey found.
Tag: Financial Wellness
EY Navigate supports users as they manage the twists and turns of their financial life journeys, breaking down complex tasks, such as retirement planning and debt management, into bite-sized activities, and also offers personal planning with EY professionals.
Education benefits that address rising student loan debts and parents saving for children’s future college cost are financial well-being benefits that are gaining traction.
Bruce McClary, vice president of communications at the NFCC, says its survey shows Americans of all generations are increasingly challenged by financial commitments.
“Low levels of financial literacy—not only [among] the young but also people close to retirement—show we need to step up the effort to promote financial knowledge across the entire population," says Annamaria Lusardi with the Global Financial Literacy Excellence Center.
Employees are racking up credit card debt and borrowing from retirement savings to pay for unexpected expenses.
“We’ve designed a hybrid digital/human financial wellness service that supports users as they manage the twists and turns of their financial life journeys," says Lynn Pettus from Ernst & Young.
Nearly half of respondents to a LendEDU survey said they believe they will be able to retire sooner as a result of greater take-home pay due to tax reform.
Three-quarters of respondents to a Schwab Stock Plan Services survey consider equity compensation part of their long-term financial plan, and most say their equity compensation helps them feel less stressed about their finances and more prepared for retirement.
“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.
The initiative comes after Transamerica studied the parallel nature between physical and financial lifestyles.
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The tool aims to relieve anxiety caused by personal finance woes.
An Alight Solutions survey finds a common disconnect between what workers believe is crucial to financial education, compared to their employers.
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.
“Plan sponsors that prioritize their goals and objectives strategically have the opportunity to both enhance participant outcomes and mitigate risks.” says Sarah Fitzmaurice, DC & Financial Wellness leader, Mercer.
DC plan participants can set up automatic payroll deductions for emergency savings, bill payments, and debt management.
Among all respondents to a Fidelity Investments survey, 43% plan to increase their retirement savings by 1% or more of their salary next year.