5 ways employers can help improve employees' financial literacy and wellness

Employers are increasingly attempting to help improve employees' financial literacy in new and different ways.

By Peter Waitzman | April 19, 2018 at 10:01 AM

paying off deb FINRA Foundation financial literacy test stagnant wages monthly expenses running out of money in retirement Related: 3 ways to approach employees about financial well-being

1. Provide an initial financial assessment

2. Encourage employees to discover free financial resources

3. Suggest employees create a monthly budget and track spending

4. Help employees better understand basic financial principles

5. Provide individual coaching

Peter Waitzman is a senior financial coach for the MoneySteps financial wellbeing program.

NOT FOR REPRINT

1 Stop HSA Headaches: Helping Clients Choose the Right Provider

2 Armed man causes UnitedHealthcare buildings to lock down

3 Trump tells DOL to develop PBM transparency regulations to lower drug prices

4 Biden breaks silence to slam Trump over Social Security cuts

5 Employers' ACA coverage in limbo as Supreme Court weighs task force legality

Insurance
BenefitsPRO Broker Expo 2025
May 06, 2025 - Boston

The premier educational and networking event for employee benefits brokers and agents.
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information
Consulting
Consulting Top Consultants 2025
June 26, 2025 - New York

Consulting Magazine identifies consultants that have the biggest impact on their clients, firms and the profession.
More Information

DOL seeks 60 days to determine ‘next steps’ on legal challenges to its new fiduciary rule

By Lynn Cavanaugh | April 15, 2025

The Department of Labor has requested an additional 60 days so that it can consider next steps in regard to two court challenges to its controversial fiduciary rule, which has been on hold since last year.

DOL seeks 60 days to determine ‘next steps’ on legal challenges to its new fiduciary rule

No ‘fiduciary breach’: AT&T wants its ‘cookie-cutter’ 401(k) forfeited funds lawsuit dismissed

By Lynn Cavanaugh | April 15, 2025

The telecom giant is one of the latest employers to get sued for using forfeited plan funds from departed employees to pay administrative expenses, in violation of ERISA duties.

No ‘fiduciary breach’: AT&T wants its ‘cookie-cutter’ 401(k) forfeited funds lawsuit dismissed

12 tech trends shaping the future of 401(k)s: New solutions to help close the retirement savings gap

By Lynn Cavanaugh | April 14, 2025

Now more than ever, America can tackle the retirement industry’s most pressing challenges while serving small employers and communities of color and supporting advisors and providers in order to give every worker a shot at financial security, says a new report.

12 tech trends shaping the future of 401(k)s: New solutions to help close the retirement savings gap

How One Employer Helped 1 in 3 Employees Improve Blood Pressure link

Case Study

Sponsored by Labcorp

Reducing Employee Onboarding Time and Solving Staffing Challenges

Long onboarding times and staffing shortages create costly delays. Discover how one large healthcare system streamlined its hiring process, reducing onboarding time from weeks to days while improving the candidate experience and freeing up internal staff.

Browse More Resources ›

White Paper

Sponsored by Trustmark Voluntary Benefits

Opt In or Opt Out: Solving the Problem of Low Employee Engagement in Passive Voluntary Benefit Enrollments

Voluntary benefit elections are not what they used to be. The shift toward passive enrollments prevents employees from being actively engaged in the enrollment process, generating low participation rates and putting employers and insurers at risk. This guide explores a new approach to enrollment that combines facets of both traditional enrollment processes and the new self-service culture to increase engagement and boost participation.