Tag: Financial Wellness

Sources at the 2018 PLANSPONSOR National Conference discussed financial wellness, choosing between Roth and pre-tax savings and saving for long-term health care expenses.

To help allay their fears, MetLife has issued the first of four white papers on financial wellness.

Financial Finesse observes ways employers drive repeat usage of financial wellness programs.

A PwC survey finds employees are struggling with debt and supporting adult children and aging parents, but also are not investing in their retirement plans properly or using health savings accounts (HSAs) to save for retirement health care costs.

Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.  

But less than half are willing to do the same for better health care benefits, Willis Towers Watson learned in a survey. 

Data provided by CommonBond shows that workers in the technology and retail industries are most straddled with student loan debt; even workers in industries less impacted by student debt say they believe employers should help.

“This study shows that for financial firms who want to improve retirement savings outcomes must evolve their role from just account providers to trusted partners that people can turn to for help on holistic financial wellness,” NARPP says.

One-third of North American workers surveyed said their employer does not offer retirement education or coaching.

“In creating this new financial wellness platform, we designed a hybrid human/digital approach that engages all users in the way that feels most comfortable to them," says Kate Barton, EY Americas vice chair of Tax Services.

This is particularly high among Gen Z (69%), Millennials (64%) and Gen X (66%), a survey found.

Bruce McClary, vice president of communications at the NFCC, said men have the highest levels of financial confidence, but are less likely than women to reach out for financial advice.

Given a personal finance survey, participants could answer only half of the questions correctly

Nearly one in four say retirement planning is a touchpoint for financial stress

Launching in spring 2018, PlanSmart Financial Wellness will focus on behavioral change, giving employees the tools, guidance and support they need to improve their financial wellbeing.

A survey of 1,000 Americans found 35.7% of respondents are going to use the money to pay down debt faster, 12.8% are going to use the money to save more for retirement, and 3.5% are going to use the money to invest in the stock market.

Among those who have never exercised or sold their equity compensation or ESPP, 34% admit to being worried about selling under the wrong market conditions and 34% say they are afraid of potential tax implications of making a wrong decision.

The new financial wellness program is designed to inspire, educate and encourage employees to make lasting financial behavior changes.

The platform highlights the importance of integrating both physical health and financial wellness in a worker's lifestyle.