An Introduction to Financial Wellness
What is Financial Wellness, and why is it important?
Financial Wellness is a newer employee benefit. In fact, it’s one of the fastest growing employee benefit as of 2016. But what’s all the interest in this program? Over 80% of companies have already employed a wellness program of sorts. We have seen the dramatic affects it has on employee productivity and retention. Now, with a closer look, studies show that financial worries are the number one cause of stress and anxiety for employees. We encourage you to learn more about this by watching the video. Please take a moment to do so, now.
What should you do to learn more?
As Steve mentioned, there is another video. If Financial Wellness interests you at all, click the button below. There we will take more time to describe Financial Wellness in full.
Many plan sponsors wrestle with the question of who is considered a fiduciary within their 401k plan. Under Section 402 of ERISA every plan must have a Named Fiduciary. This newsletter is dedicated to effectively inform our clients of current trends within the 401k marketplace.
This article was a bulletin written by Andy Williams of the Golan & Christie law firm. In the article he expresses the fiduciary duty of the employer, and the steps plan sponsors should take to help their plan fiduciaries.
On April 1, 2017, a fiduciary responsibility will be applied to financial advisers of 401(k)s and IRAs with the Department of Labor’s new fiduciary rule.