American workers are expecting more from workplace programs, such as tailored communications and experienced representatives.
Communication strategies are integral to financial advisers, plan sponsors and participants, especially now.
The move comes even as an American Consumer Credit Counseling (ACCC) report finds more workers are increasingly confident in their employment stability.
As the coronavirus pandemic continues to lead to an increase in financial concerns, a Retirement Advisor Council guide suggests key financial well-being strategies.
Many are considering early retirement or reducing their retirement savings.
Financial advisers have a large impact on how confident older workers are during retirement.
One scenario in the study predicts a 54% reduction in retirement account balances if a participant were to fail to repay a coronavirus-related distribution.
The tool takes into account the latest rules and resources from the CARES Act.