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Benefits of Omnichannel Financial Wellness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
The advantages of financial wellness programming for employers are well-documented and may include: lower health care costs, higher worker retention, reduced absenteeism, and increased productivity. But not all financial wellness plans are created equal, and boosting utilization rates can be an ongoing challenge. An effective omnichannel strategy can help plan sponsors engage more employees, regardless  Read More →
A More Nuanced 4% Rule?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
In December 2022, Morningstar adjusted its recommended starting annual withdrawal rate for balanced retirement portfolios upward from 3.3% to 3.8%. The revision was based on an assessment of factors including recent equity valuations, bond yields and inflation. This new rate, however, is still less than the 4% figure commonly cited in financial planning literature. The  Read More →
Four Plan Design Features to Help You Attract and Retain Talent
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
According to Morgan Stanley at Work’s Plan Sponsor Research Results, plan design is a fast-rising differentiator that’s driving employee enrollment and supporting talent strategy in many companies. 401(k) plans remain a strong essential workplace benefit, as you well know. As plan sponsors see other benefits evolving to meet the more complex scenarios presented by the  Read More →

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