FINANCIAL WELLNESS
Do You Have A Financial
Wellness Program?
Companies Are Luring and Retaining
Employees with This Key Perk
BY: PAUL RAHN
WEALTH MANAGEMENT
MARCOTTE
WHAT DO YOUR RETIREMENT PLAN
PARTICIPANTS WISH YOU WOULD
OFFER?
Besides the chance to save and invest part
of their paychecks, that is?
THE ANSWER COULD BE “A LITTLE
MORE HELP.”
Last year, Charles Schwab surveyed
workers contributing to the 401(k)
programs it provides, and 46 percent
wanted help “calculating how much I need
to save for retirement.” Forty-three percent
wanted assistance in “determining at what
age I can afford to retire,” and 39 percent
listed “figuring out what my expenses
will be in retirement” as an item on their
financial to-do list. Others wanted help
with day-to-day financial matters, such as
debt management and budgeting. 1
COMPANIES WITH 401(k), 403(b),
AND 457(b) PLANS ARE STARTING TO
RESPOND.
At some firms, basic enrollment pep talks
focused on consistent contributions
and explanations of asset allocation
have been supplemented by degrees of
financial coaching. This year, 59 percent
of employers responding to an Aon Hewitt
survey on the topic said that they were
very likely to offer workers some form of
4