financial wellness

Customized Content is Good Medicine for Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
From recent college grads struggling with student debt to seasoned professionals planning an imminent retirement, participants’ financial needs and goals are as diverse as the workforce they’re part of. In response, many organizations have chosen to implement a multi-faceted financial wellness offering. According to the 2022 PLANSPONSOR Recordkeeping Survey, four in 10 recordkeepers have an  Read More →
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 →

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