The 401k Study You'll Never Forget

November 18, 2016

401k, Financial Wellness

Joel Manzer

401kIn August 2016, Charles Schwab conducted a survey of 1,000 employees between the ages of 25-70 who currently contributed to their retirement plan.[1]

The survey revealed that an employee’s 401k is their primary source of retirement savings.  It is also apparent that they desire help as less than half of those asked know how much they should save for a comfortable retirement.[2] 

70% of those who participated wanted personalized investment advice for their 401(k), and 85% said they would use a financial wellness program that would provide them with education, tools and resources to improve their overall financial health.[3]

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The Anatomy of a Great Financial Wellness Program

November 10, 2016

Financial Wellness

Joel Manzer

financial wellnessOver the past several years we’ve heard the words “Financial Wellness” and more companies are adding a financial wellness program to their available voluntary benefits.  According to the AON Hewitt 2016 Report “56% of employers indicated they are very likely to create or focus on the financial well-being of employees in ways that expand beyond retirement decisions in 2016.”1

Why should you make having a Financial Wellness Program a priority?

Financial challenges are one of the leading causes of employee stress.  When employees have tools that are available to help alleviate their stress they make better financial decisions that lead a more stable lifestyle which benefits a company in the following ways:

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9 Compelling Reasons Why Your Employees Need Financial Wellness

43903959_l.jpgThis year, PwC’s Employee Financial Wellness Survey incorporated the views of 1,600 Full-time employed adults, and it marks the first time a decline in specific areas associated with employee financial wellness.[1]

Although the topic of Financial Wellness has been a hot topic within the voluntary benefit industry for the past several years, the biggest issue is associated with financial stress – which has increased to 52% in 2016.  The bottom line, according to the PwC survey, is that “financial wellness is emerging as a key factor in an employee’s overall well-being.[2]

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