Plan participants in the 50 and up age group are thinking about the transition to retirement because it is on the horizon, while the younger age groups are more preoccupied with budgeting and managing debt.
To improve engagement with financial wellness programs, companies are employing new tools based in behavioral science and powered by responsive technology.
The firm recently announced a new initiative to expand its 401(k) business, and it has now unveiled a texting solution aimed at simplifying compliance and recordkeeping in text-based client communications.