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Special Report
Benefits advisors and their employer clients are increasingly seeking information and guidance about offering financial wellness plans to their employees. Financial wellness can encompass many things, from financial education to voluntary products to budgeting and financial tools and more. This special report covers financial wellness from many perspectives, providing insight and strategies to help in the decision-making process.
This is one time where KISS (keep it simple, stupid) isn’t the answer, according to a new study from Texas Tech University.
The study used a hypothetical employer-sponsored 401(k) plan and looked at how the presentation of financial planning information impacts retirement-savings behavior. Researchers did not expect to find that simplifying the information did not increase plan enrollment rates among either group studied: new employees earning more than $50,000 and business school students.
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