Do you know what % of employers feel they would benefit from a financially secure workforce?
Financial wellness is on the minds of many employers. According to a recent white paper from Prudential, what percentage of employers believe that there is significant value in helping their employees improve financial wellness?
The correct answer is …
C. According to the The Power of the Wellness Effect, a 2017 white paper from Prudential, there is growing acceptance among employers that helping employees achieve financial wellness drives value not only for employees, but also for employers. Financial wellness programs are emerging as a new type of employer-sponsored benefit program that focuses on foundational financial issues.
We believe that employers can maximize the effectiveness of their financial wellness efforts by looking at underlying issues in their 401(k) plan, specifically in the area of loans. Loan defaults are a significant drain on employee retirement outcomes, with nearly $6 billion a year lost to this issue when participants lose their jobs.
RLE reduces this troublesome source of plan leakage for employers by preventing loan defaults. Contact us today to see how we can help your organization improve financial wellness among your plan participants.