The program seeks to gain insight into the financial health of employees and provide them with counseling to address critical needs.
An increase in participant engagement and confidentiality are reasons to continue virtual meetings when employees are back in the office.
In addition to deciding whether to save for retirement or pay down debt, employees should think about how much they can contribute to an emergency short-term savings.
Employee stress has increased, especially among younger generations dealing with student debt, and so employers should provide financial wellness programs that continuously engage and motivate their workers, according to a recent PwC survey.
However, a survey suggests engagement with financial wellness programs boosts retirement confidence.
After facing challenges resulting from the pandemic, younger participants show the most interest in receiving help from a financial professional.
Help with investments and retirement income were cited by participants in two surveys.
Select large employers on Principal's recordkeeping platform can provide access to Edelman Financial Engines’ financial planners, an array of financial education tools and online advice.
A collaboration with Equifax helps employers understand financial stressors affecting employees.
Whether they take part in implementing the programs or not, advisers can help clients establish metrics for measuring the success of financial wellness programs.
Employees of Voya’s clients whose income has been affected by the COVID-19 pandemic will be able to get a personalized short-term financial action plan.
The Ayco Marketplace offers both proprietary solutions and curated products and services from other organizations addressing a variety of financial needs.
Personal Capital will be positioned to serve plan participants who seek a combination of digital and human advice while helping to accelerate the capture of rollovers and other out-of-plan assets, the firms say.
SmartDollar will evaluate each company’s situation to determine the length of the free trial.
Users can get a free session with a certified financial counselor or enroll in a formal debt management plan for a fee.
With the click of a button on John Hancock Retirement’s participant site, participants can create an emergency savings account.
EvoShare and intellicents are offering a program that will put cash back on purchases into retirement and other savings accounts.
A refinancing program provided through CommonBond is available to people who have access to MassMutual’s retirement plans, voluntary benefits or both.
The emergency savings solution is available automatically through MassMutual’s MapMyFinances financial wellness tool.