- Small Business Employee Care
Amid continued economic uncertainty, demonstrating employee care is key for small business owners
Against the backdrop of the current uncertain economic landscape and the increasing cost of living for Americans due to inflation, it’s imperative that small business employers focus on demonstrating care across the employee experience, including supporting the financial health of their employees, even as their own business challenges mount.
read more - Elevating Employee Wellness
1 in 3 working Canadians feel their employers are unprepared to support their mental health needs
The consequences of mental health concerns have undoubtedly taken a toll on the lives of Canadians over the past few years. Despite best efforts from employers, there remains a disconnect between how Canadian employees feel their employer supports their mental health and wellbeing.
read more - Are In-Plan Annuities At A Tipping Point?
Vast majority of DC plans today have no in-plan option for generating lifetime-guaranteed income for retiring employees
Today, the vast majority of defined contribution (DC) plans — an estimated 9 in 10 — have no in-plan option for generating lifetime-guaranteed income for retiring employees. Recent LIMRA research shows this trend may be changing.
read more - The State Of The PE Sponsor & CFO Relationship
Private equity-backed CFOs are more worried about job security than ever
Private equity (PE) backed CFOs are more concerned about holding onto their jobs than ever before, according to a newly released survey by Accordion, the private equity-focused financial and technology consulting firm. Findings from the firm’s third biannual survey, The State of the PE Sponsor & CFO Relationship, reveal that a whopping 91% of PE-backed…
read more - Workers Commit To The Long-Term While Navigating Uncertain Markets And Short-Term Challenges
Retirement account balances down from last quarter; double digit 401(k) increase from Q3 2022
According to the latest data from Fidelity Investments®’ Q3 2023 retirement analysis, account balances have decreased slightly since last quarter, while withdrawals and loans are inching up, showing the impact economic events such as inflation and market volatility can have on Americans‘ wallets—and ultimately their retirement savings.
read more - Use Of Primary Care Among Workers And Dependents With Employment-Based Health Coverage
Less people making traditional office visits, more using telemedicine and urgent care clinics
A new research report published today from the Employee Benefit Research Institute (EBRI) documenting how changes in primary care location and provider type have changed from 2013-2021 while coinciding with private- and public-sector policy changes finds that less people are making traditional office visits and more are using nurse practitioner and physician assistant services.
read more - National Survey Of Employer-Sponsored Health Plans
Health benefit costs up 5.2% in 2023 due to inflation and higher spending on prescription drugs
Today, Mercer, a business of Marsh McLennan (NYSE: MMC), released the findings of its 2023 National Survey of Employer-Sponsored Health Plans, which found the average per-employee cost of employer-sponsored health insurance rose by 5.2% in 2023 to reach $15,797.
read more - Plan Providers Need To Prove Value Of Financial Wellness Programs
Cerulli recommends providers evaluate participant interaction to deliver a more personalized experience
Financial wellness programs have grown to become a key component of the defined contribution (DC) plan value chain, with close to 90% of recordkeepers presenting a financial wellness program that either is proprietary or offered in conjunction with a strategic partner, according to the latest Cerulli Edge—U.S. Asset and Wealth Management Edition.
read more - Public Pension Funding Index
Public pension funded ratio drops to 71.4% in October, the same level as one year ago
Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation’s 100 largest public defined benefit plans.
read more - US Employees Prioritize Workplace Flexibility As A Key Component Of Compensation
No longer "nice to have" perks
For US workers, options like hybrid/remote work and flextime are no longer rare luxuries or "nice to have" perks. According to a new survey from The Conference Board, a majority now consider workplace flexibility a basic element of competitive compensation—one that can make or break a company's ability to attract and retain talent.
read more - America’s Workforce Is Worried Sick About Their Health
Physical health is top concern for nearly half of workers, trailing only financial and economic worries
Included Health, a new kind of healthcare company delivering integrated care, navigation, and advocacy for millions of people nationwide, today released its Workforce Vitals Report, a data-driven analysis revealing insights into America’s workforce when it comes to healthcare.
read more - Workplace Open Enrollment Period Is Missed Opportunity To Bolster Retirement Plans
As many workers elect workplace benefits during open enrollment this month less than half will review or increase retirement plan contributions
The overwhelming majority of workers (87%) believe it’s a good idea to review their retirement savings plan while selecting other workplace benefits during their company’s open enrollment period, but just 44% say they will review how much they contribute to their retirement plan, according to a new survey released by Corebridge Financial and Morning Consult.
read more - Reaching For The American Dream
Millennial and Gen Z adults still see American Dream within reach despite challenges
While the definition of the “American Dream” is subjective, a new Chase survey of more than 2,500 Millennial and Gen Z adults shows that they believe freedom and homeownership are its most important pillars.
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