Products September 9, 2010

DIA Launches Facebook Page

Diversified Investment Advisors, Inc., has launched “Your Money Matters” on Facebook to share and explore retirement and personal finance issues and trends with consumers.
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Diversified’s Facebook page includes links to information resources, financial planning tools, and insight from Diversified’s experts on retirement and financial planning matters. According to a company release, fans are invited to comment on Diversified’s posts and engage in a dialogue about all issues related to saving and investing for retirement.

The page also features a link that allows fans to plan their course to retirement.  

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“Diversified is excited about leveraging social media to build an online community of people who want to know more about personal finance and saving for retirement. Our Facebook page is yet another way to expand our dialogue with individuals,” said Patricia Advaney, senior vice president of participant solutions at Diversified, in the announcement. 

The page is located at http://www.facebook.com/yourmoneymatters.

 

Data & Research September 9, 2010

Majority of Employers Implementing Auto Features

Some 72% of employers in a recent poll have adopted auto plan features, with 51% using auto enrollment and 71% deferring participants into a target-date fund.
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The International Foundation of Employee Benefit Plans (IFEBP) poll also said 44% of employers report they offer financial or retirement planning opportunities to their employees, while 81% said their employee assistance program can handle workers suffering from financial-related stress.

The survey found that most employers offering a defined contribution (DC) plan provide matching contributions: 81% of corporations, 68% of professional service firms, 57% of public employers and 9% of multiemployer plans. The most common match reported is 50 cents per dollar up to 6% of pay; 6% report they have dropped their match within the past two years.

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DC plans are most common among corporations (83%) and professional service firms (77%). They are less popular among public employers (61%) and multiemployer plans (58%).

Defined benefit (DB) plans are most common among public employers (88%) and multiemployer plans (88%) and less so among corporations (41%) and professional services firms (19%).  Seventy-nine percent said they have not frozen their DB plan. Multiemployer plans were least likely to have frozen their plan (8%), corporations the most likely (30%). Only 3% of respondents indicated they had terminated a plan.

“The lingering effects of the recession have prompted workers to closely examine their retirement saving and investment strategies for the future. For many, employer-provided retirement plans will be a significant component of their retirement income,” explained Julie Stich, Senior Information/Research Specialist at the International Foundation, in the news release.

Employee Benefits Survey: U.S. and Canada 2011 was conducted in March and April 2010 with responses from 1,315 individuals representing four types of organizations: corporations, professional service firms, public employers, and multiemployer benefit plans.

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