Employee Outcomes

Survey Says…What’s Your Take on Financial Wellness Programs?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
A recent comprehensive TIAA survey of financial wellness plan participant perceptions may be helpful to plan sponsors who have, or are considering implementing, a wellness plan for their employees. Employees’ definition of financial wellness varies considerably: “having the means to take care of your family and others” (53%), “not worrying about money or debts” (51%),  Read More →
Retirees’ Retirement Asset Withdrawal Rate: Will Your Money Last?
Team SummitEmployee Financial Resource Center, Employee Outcomes, Employer Resource Center, Financial Planning, Retirement PlanningComments are off for this post
For many years the investment advisory community has proposed that if retirees withdrew their retirement assets at the rate of 4% annually there is a high probability that assets would last to normal life expectancy. The 4% “rule” is not a one-size-fits-all solution, and there are several variables to consider, but it could at least  Read More →
Thanks for the Memories: Gratitude and Financial Wellness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
So much about financial wellness has to do with cultivating a mindset that favors delayed versus immediate gratification. In the language of behavioral economics, the tendency to prefer short-term rewards is called hyperbolic discounting. This often leads to more impulsive decision-making, and it can feed excessive personal debt and hamper retirement readiness over time, whereas  Read More →

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