| What's Your "Personal Financial Wellness" Score?
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If your employees need financial education you can find an organization to provide these services, by going to www.pfeef.org and click on Quality Providers.
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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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| Opt-in/Opt-out PFEEF does not send or condone the sending of unsolicited commercial email. Subscribers are added to our electronic newsletter on an opt-in permission basis and may unsubscribe through links in every mailing. |
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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
Teaching Workers How to Budget
EXECUTIVES AT PRUDENTIAL FIRST started to notice the change about a year and a half ago.
More workers at the financial services firm were turning to an employee assistance program. But in addition to seeking help with the typical legal- or family-related concerns, the staffers were asking questions about a spouse who had lost a job, about a depleted retirement account or about paying for a child's education.
To get its employees' focus back on work, Prudential came up with a plan. Through its health and wellness department, the company would offer employees a budget coaching program and the services of a certified financial planner. "It seemed people would benefit from coaching very specifically targeted to helping them get their finances under the most basic control," says Kenneth Dolan-Delvecchio, vice president of Prudential's health and wellness department.
click here for the full story |
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Social Security Makes up 40% of the Nest Egg
Social Security makes up the bulk of older people's income, representing nearly 40% of the retirement nest egg, according to a new report from the Employee Benefit Research Institute.
Pensions and annuities make up just 20% of income for people age 65 and older; earnings and wages make up 26%; and income from assets accounts for 13%. In terms of distribution of income, 89% of older people receive income from Social Security, 55% of people earn income on assets, 35% have pensions or annuities and 20% still work.
Median income is just $18,001, although that paltry amount is actually the highest in the Census Bureau's time series. In today's dollars, median earnings stood at $13,264 in 1974 and $17,085 in 2004. The median income for workers under 65 is $50,233, according to the research, which is based on the latest U.S. Census Bureau data.
Elderly women rely on Social Security more than elderly men - it accounts for 48% of women's income, compared to 34% for men. More of older men's income comes from pensions and annuities, 22% compared to 17% of women's income.
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8th Annual Study of Employee Benefits Trends
For the eighth consecutive year, MetLife has surveyed employers and employees on pressing issues facing the U.S. benefits industry today and compiled the results in its annual Study of Employee Benefits Trends.
This year's results point to the apparent resilience of workplace benefits in a challenging economy and reveal that as employers and employees continue to deal with the effects of the economic downturn, they are focused on the long term. Most employers have not reneged on their benefits commitments and employees continue to depend on their workplace benefits for protection and stability. The Study provides new insights that can help employers identify opportunities to realize the full potential of their benefits programs and to maximize the return on their benefits investments.
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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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