Employers trying to do something to help their employees improve their financial wellness may be congratulating themselves on putting programs in place to deal with it—but the programs they’re using may not be doing much, if anything, to help employees ditch their financial stress and even threaten their preparations for retirement. According to PwC’s 8th annual Employee Financial Wellness Survey, financially
Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study. Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the current state of financial wellness in the U.S. shows that in 2013,
Employees who used their financial wellness program regularly improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new study from Financial Finesse. In 2013, 21 percent of participants included in the study indicated they were prepared for retirement. By 2018, that number rose significantly to 57 percent.
In the past five years, defined contribution (DC) plan sponsors likely to add or expand financial wellbeing programs has expanded from 30% to 65%, according to Alight’s “2019 Top Topics in Retirement and Financial Wellbeing: Building on the Past, Working Toward the Future.” Sponsors’ No. 1 goal for their participants has moved from increasing savings