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Showing entries with the topic “Communication & Education”.

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21

Jan 2021

Measuring ROI on Financial Wellness Programs

Considering the woeful state of employee financial wellness statistics and the number of individuals living paycheck-to-paycheck, employer-sponsored financial wellness program should be relatively effective. But how can we determine whether the programs are working as intended? There has not been a…

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10

Dec 2020

Getting to the Bottom of Financial Wellness for Women

The challenges facing women as they strive to achieve financial wellness are unique - and this year’s pandemic has shed even more light on just how important the topic is. In collaboration with my peers at the Retirement Advisor Council, we look to highlight some of the key elements of this importan…

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08

Oct 2020

Retirement/Financial Wellness Adages That May Not Be Helpful

A recent Forbes article indicated that the new retirement income annuity projections mandated by the SECURE Act, which are intended to encourage retirement savings, might have the opposite effect. For example, if a participant realizes that their $125,000 retirement account balance can only purchase…

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10

Sep 2020

Young People, Financial Wellness, and Some Interesting Survey Data

Many retirement plan sponsors are aware that financial wellness/independence is a powerful benefit that should be strongly considered or enhanced. Generally, employees who are more financially healthy are able to save more for retirement (and other purposes). And, thanks to the magic of compounding,…

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20

Aug 2020

How Successful is Your Retirement Plan? Ask This Simple Question

There are many ways to measure the success of a retirement plan - from simple methods such as assessing plan asset growth, average account balance, and voluntary participation percentage metrics, to more complicated approaches like monitoring the percentage of participants on track to accumulate eno…

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13

Aug 2020

Participant Engagement: Determining Your Audience’s Preferences

One of the challenges associated with successfully engaging retirement plan participants is figuring out your audience’s preferences. Let’s take myself as an example, ignoring the fact that I work in the retirement plan industry for a moment. As a 50-something Gen Xer, my plan’s recordkeeper/TPA mi…

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23

Jul 2020

Getting to the Bottom of Financial Wellness

Recently, I had the opportunity to collaborate with a wonderful group of people at the Retirement Advisor Council to produce a comprehensive position paper, “What do You Mean When You Say Financial Wellness?” While a hot button term, if ten different people were asked to define financial wellness/in…

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14

May 2020

Is Now the Time for a Roth Conversion?

Allowed by some retirement plans, a Roth conversion permits the transfer of pre-tax dollars to Roth, with income taxes paid on the transferred amount, instead of upon the distribution of the pre-tax funds. (once certain qualifications are met, Roth balances are not taxed at all upon distribution). …

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