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Increase Your Company's Productivity through Financial Education
Employers can now estimate the value of providing financial education workshops to their employees through our ROI (Return on Investment) calculator. Go to www.personalfinancefoundation.org to use this valuable tool. If you use one of our affiliated organizations to educate your employees through workshops, online courses, or money coaching, we will work with you to do pre-and post-testing to show how your company has increased its productivity.
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Welcome to the Personal Finance Employee Education Foundation Newsletter
Please join others in staying informed about the importance of Employee Personal Finance education through our monthly newsletter.
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PFEEF's Mission
To promote and facilitate financial education in the workplace. The PFW Scale™, Return on Investment Calculator, the Financial Education Providers List, as well as other resources will enable employers to understand that employees who have their finances in order will be more productive.
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Featured Employer
Copic is a company that has decided to provide financial wellness education for all interested employees. The classes are offered at the end of the work day. Spouses and Significant Others are invited as well. The course topics include cash flow management and budgeting, risk management, investment planning, retirement planning, tax planning and estate planning. They also make sure that employees receive quarterly updates on the economy, along with suggestions and ideas regarding relevant topics. Each employee is also offered the opportunity to receive one-on-one financial educational guidance. We will be using the ROI system to determine the value of this education, but so far the employees seem to feel that they have gained a better understanding of their finances and are improving in their area of savings and planning for the future.
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The 2010 Retirement Confidence Survey (RCS), now in its 20th year,
was released on March 9, 2010 by the Employee Benefit Research Institute (EBRI) and Mathew Greenwald and Associates (MGA), and revealed that American's retirement confidence is stabilizing, but that retirement preparations continue to erode. One key finding: Many are clueless about savings goals: workers continue to be unaware of how much they need to save for retirement. Less than half of the workers (46%) report they and/or their spouse have tried to calculate how much money they will need to have saved by the time they retire so that they can live comfortably in retirement.
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Retirement Messages are Penetrating Employee Consciousness
I bring you good tidings today from Charles Schwab, whose new data show that all the time you've spent getting blue in the face about the importance of rolling over 401(k) savings is doing some good!
According to Schwab, more people are rolling 401(k) savings into an IRA when leaving a job. Among 401(k) participants who left their job in the fourth quarter of 2008, 69% of assets had been distributed from former employers' plans one year later. Click here for the full story.
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We appreciate your interest in the Foundation.
Sincerely,
Judith Cohart, President
Personal Finance Employee Education Foundation Inc
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