For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Products July 17, 2017
DCIIA Publishes Financial Wellness Primer
Among other things, the guide discusses why employers are well-suited to play a role in promoting financial literacy and wellness.
Reported by Rebecca Moore
The Defined Contribution Institutional Investment Association (DCIIA) has published “A Financial Wellness Primer.”
DCIIA says it defines financial wellness from an employee’s perspective as: The ability to meet ongoing financial responsibilities while following a plan to create a secure financial future.
The guide discusses why employers are well-suited to play a role in promoting financial literacy and wellness; the cost of a workforce that is not financially healthy; productivity gains and return on investment; and the value of retirement readiness. It also includes a section specifically about women and financial wellness.
“Ultimately, adopting a robust financial wellness program has the potential to help millions of DC [defined contribution] plan participants improve their financial security in retirement, a goal that is well worth the time and effort,” the guide concludes. DCIIA says it is considering further work on this subject focused on the more detailed challenges of implementation, communications and program success measurement.You Might Also Like:
Benefits |
Labor Outlook Lessons From EBRI’s Spring Policy Forum
A panel of experts convened by EBRI discussed what factors are driving the ‘Great Resignation and Retirement,’ and what the...
Employers Feel the Strain of Rising Labor Costs
New survey data shows employers both large and small are looking closely at operating expenses and, when possible, prioritizing salaries...
Picking the Minds of Stock Plan Participants
Most feel confident in their ability to access their stock plan account, but many would like more education about maximizing...