Too Many Products, Not Enough Education Hampers Financial Wellness Plans

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A new study shows just 16 percent of employers have a policy outlining a financial wellness objective.

Defined contribution plan sponsors are not waiting for politics or the market to dictate financial wellness strategies, a recent retirement consulting firm survey showed, but experts still warn that there are danger areas when starting or expanding these benefits.

Today, 92 percent of plan sponsors say they will focus on workers’ financial health beyond their progress with their 401(k) plans, data from Aon Hewitt’s 2017 Hot Topics in Retirement show. Right now, 58 percent of employers offer tools aimed at improving financial wellness;

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