UNEMPLOYMENT
INSURANCE / SOCIAL SECURITY
ProSystem fx® Engagement
ProSystem fx® Engagement streamlines your processes at all stages of plan administration with integrated workflow features for administration tracking, reporting, review and sign-off, and archiving.
Seventy percent of the employers responding to a recent survey conducted by the International Foundation of Employee Benefit Plans (IFEBP) reported that they offered retirement or financial planning education or programs to their employees. Pat Krajnak, IFEBP Director of Reference/Research Service, reported that this assistance was most commonly provided in the form of group meetings and workshops, but that web-based tools were gaining in popularity.
The most common program offered was retirement planning in the form of a group meeting with a plan provider, such as a 401(k) vendor. Approximately half of the respondents offered computer-based programs to employees, most commonly retirement income calculators. Many also offered internet access to informational sites, often including online tools.
Of the respondents reporting that they offered some type of planning initiative, 61% offered formal retirement planning programs and workshops. Nearly three-quarters (72%) offered these programs during normal working hours. One-third of employers offering formal workshops did so using outside providers only, 15% percent relied on in-house staff only, and 52% used a combination of in-house staff and outside providers.
In addition to retirement planning, 60% of survey respondents offered investment education, 39% offered financial planning and 28% offered investment advice.
©2009, CCH. All Rights Reserved.
