A report from Bank of America Merrill Lynch shows employees who do not feel financially well are most concerned about shorter-term financial goals, whereas employees who do feel financially well are most concerned about long-term goals.
Tag: Financial Wellness
Bank of America Merrill Lynch’s 2018 Workplace Benefits Report also finds men and women show different levels of financial stress.
In applying My Money Connector, retirement plan participants can work toward a budget, monitor spending habits, determine savings goals and manage finances, says the firm.
The feature utilizes an after-tax approach to accrue emergency savings.
Goals like paying off student loans, reducing debt and saving for college can be linked to the tool so users can keep track of their progress.
Mercer suggests smart companies will help employees grow professionally, lead healthier lives and make better financial decisions by leveraging technology to efficiently deliver an enhanced employee experience.
The new website will include financial wellness and behavioral finance sections, and a brand new education center.
“These findings are a call to action for advisers, employers and policymakers, who have the ability to help gig workers set up retirement savings plans, acquire adequate insurance coverage and develop budgets," says Jamie Kalamarides, president of Prudential Group Insuranc
ABGMI works with each company and its financial adviser to design a custom program based on the company’s goals, objectives, and employee demographics.
Is it more than education? Is it a full-blown program or something spontaneous and ad hoc? How frequently is it delivered, and how is it benchmarked? Who delivers it, and when?
Addressing employees’ financial issues can help them free up cash to save for retirement, including long-term health care costs.
To help allay their fears, MetLife has issued the first of four white papers on financial wellness.
Compared with new users, repeat users are 24% more apt to be on track for retirement and 21% more apt to have confidence in their investments, Financial Finesse research finds.
While employees are grappling with things like higher health care costs, financially supporting other family members and debt, a study from PwC finds they are not always taking the right steps to manage these issues and to invest and save for retirement adequately.
Student debt management is a complex and delicate issue that has a significant impact on employees’ broad financial wellness—but providing support can be straightforward from the plan sponsor perspective.
A study shows that higher levels of trust lead to better financial decision-making which includes higher rates of savings, increased commitment to savings, and increased loyalty to providers.
Student debt hurts the financial well-being of an overwhelming portion of respondents to a new survey—with the scourge of student debt cutting across generations and economic status.
Nearly half would like a digital retirement coach, an Accenture survey found.
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.