When a plan sponsor (or search specialist working on the plan sponsor’s behalf) squeezes a vendor too tight, the resulting contract may come with an attractive price tag, but it will set plan sponsors up for a downstream nightmare of quality and service issues that negatively impact both plans and their participants.
Pandemic sharpens focus on employee financial wellness
COVID-19 has made financial wellness a hot topic in 2020 as employees seek to become more financially resilient. Here are some initial steps plan sponsors can take to gauge how well employees are using their existing benefits and determine whether additional financial wellness benefits are called for.
Retirement readiness starts at work
Every year, 3.8 million people in the U.S. reach retirement age. How can plan sponsors help workers get ready? Offering a retirement readiness program that considers employees’ emotional, financial and healthcare needs can go a long way toward helping them prepare.