If you think financial wellness programs are a fad, think again. The industry consensus is that financial wellness not only produces results for employees, but it positively influences company bottom lines.
Employee financial stress is a hot topic. So much so, that nearly 60% of employees cite finances as their primary stressor. [1] Their financial worries surpass other top stressors, and it’s impacting their job performance.
The link between stress and employee productivity is real. Experts estimate that it costs companies $500 billion or more per year due to “health costs, absenteeism and poor performance”. [1]
Coronavirus, COVID-19, CARES Act, these topics have without a doubt overtaken your media feeds and with a valid reason. However, in this time of turmoil, we wanted to take a moment to explain what some of this means in hopes of bringing you some calm.
DOL audits can be stressful, complicated and expensive! The best way to handle one is to avoid it in the first place. Through our experience, we’ve outlined three hot button issues that are major red flags for the DOL. Watch our short video for the tips and best practices to help manage risk.
While we firmly believe life is meant to be lived, we also know that it’s important to have peace of mind in the event of an emergency. Your employees might be in the dark about the most important documents they would need if something were to happen to them.
Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans.
Your plan data and private information are valuable, but unfortunately, cybersecurity is a critical but often overlooked aspect of a plan sponsor’s fiduciary responsibility.
