Discussing college finances can be intimidating. These two firms want to open up that conversation for employees.
PSCA's new 401(k)/403(b) Day campaign can be used any time during the year and includes five pieces that highlight different retirement savings concepts.
The tool creates separate financial wellness reports for employees and their employers.
“Broadening the membership benefits available to member organizations to include not only health insurance coverage options but, health reimbursement arrangements (HRAs) lets us better meet differing needs,” explains Tim McNichols, director of business development for LIG Solutions.
Employees can access prescription cost information and comparative cost information about medical procedures and treatments on a single portal.
The discount is for businesses that set up a new 401(k) plan ahead of the October 1 government deadline for safe harbor plan designs.
Employees that do not get good primary care drive up employer health costs, so a former hospital administrator started a marketplace to help employers encourage primary care use.
The offering "highlights a plan’s strengths, points out opportunities to make improvements and enables sponsors to take action within the application to make those changes," Kristin Andreski, with ADP, tells PLANSPONSOR.
It includes automated payroll deductions and employer contribution capabilities.
"The app has the transactional excellence that people expect coupled with moments of education and celebration to help our customers build confidence," says Joleen Workman, with Principal.
The courses are designed for both plan sponsors and advisers to help them manage retirement plans more effectively.
Honing in on each participant’s ZIP+4 code to capture a wealth of lifestyle information, and analyzing them alongside factors such as gender, annuity amount and retirement health, can help plan sponsors make more informed decisions on funding and risk management, often reducing costs.
In addition to providing new fiduciary solutions to the combined client base, PCS leadership aims to leverage Aspire’s footprint in the K-12 403(b) and 457 plan spaces.
The program allows eligible employees to reallocate shares of their retirement plan contribution and company match towards student loan debt.