Financial Wellness is Sponsor Focus

Aon Hewitt’s 2014 Hot Topics in Retirement survey found that retirement plan sponsors will continue to emphasize the overall financial wellness of employees this year.

Advice options expected to grow

Nearly half (44%) of responding employers currently make investment advice available to employees, and an additional 14% are very or somewhat likely to add this service this year.

About one-third (35%) of companies offer access to third-party advisors by phone. Another 14% are somewhat or very likely to provide this support in 2014.

Almost one-quarter (23%) make in-person meetings with financial advisors available. About 10% of employers are very or somewhat likely to offer this support during this year.

Other support is or will be offered

About 25% of companies say they are very likely to offer budgeting advice to employees so that they can handle expected expenses and still have money for savings.

Aon Hewitt’s report is at http://tinyurl.com/2014HotTopics.

For plan sponsor use only, not for use with participants or the general public. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation.

Kmotion, Inc., P.O. Box 1456, Tualatin, OR 97062; 877-306-5055; www.kmotion.com

© 2014 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this publication are for general information only and are not intended to provide tax or legal advice or recommendations for any particular situation or type of retirement plan. Nothing in this publication should be construed as legal or tax guidance; nor as the sole authority on any regulation, law or ruling as it applies to a specific plan or situation. Plan sponsors should consult the plan’s legal counsel or tax advisor for advice regarding plan-specific issues.