NUMBER OF 401(k) PLAN SPONSORS WITH AN EMERGENCY SAVINGS PROGRAM FOR EMPLOYEES PROJECTED TO MORE THAN TRIPLE IN THE COMING YEAR
- Created: Friday, 07 August 2020 14:55
East Granby, CT- The Retirement Advisor Council published a research report projecting the number of 401(k) plan sponsors offering an emergency savings program for employees to grow from 10% to 34% by July 31, 2021.
The research report posted HERE is based on input from 70 member advisors of the Retirement Advisor Council representing 8209 plans and more than 4 million participants. A comprehensive report addressing participant engagement in Financial Wellness programs will be published in September 2020. The research was conducted at the request of the Financial Literacy and Financial Wellness Promotion Committee.
The report quotes Council President Troy Redstone of PHD. Retirement Consulting, Board Member Jim Robison of Strategic Retirement Partners, and Mark Ratay of The Ratay Group at Morgan Stanley.
About The Retirement Advisor Council
Formed in 2009, the Retirement Advisor Council is a national organization that advocates for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisors, investment managers and defined contribution plan service providers. To advance its mission, the Council undertakes initiatives in the areas of research, public relations and promotion, general public education, regulatory positions and practice management. The Council accomplishes this mission by:
- Identifying duties, responsibilities, and attributes of the Professional Retirement Plan Advisor.
- Sharing professional standards with plan sponsors who are responsible for the success of their plans.
- Providing collective thought capital to decision makers, product providers, legislators and the public.
- Giving voice to the retirement plan advisor community
- Offering tools to evaluate advisors to ensure the quality of services provided.
Retirement Advisor Council is a brand of EACH Enterprise, LLC. Learn more at www.retirementadvisor.us