Press Release

Council Publishes Guide to Help Employers Create More Impactful Financial Wellness Solutions For Women

Issued by Retirement Advisor Council

Dec. 1, 2020

East Granby, CT:   November 24, 2020 - The Retirement Advisor Council announces publication of its VIEWPOINT “Creating More Impactful Programs For Women”

The guide posted HERE

• Explains the unique financial challenges women face, and
• Identifies strategies to create more attractive and inclusive programs.

Men and women have a different pattern of workforce participation.  Many women do not have a continuous career path marked by steady advancement.  Compounding the problem is the fact that women tend to live longer than men.  For this reason, it’s likely that a woman will have to finance a longer and more expensive retirement.  Women also carry a greater share of the college debt burden, and many are stressed about their ability to pay monthly bills. These factors indicate that women have a greater need for customization.  They will benefit of additional emphasis on the importance of having an emergency savings accounts, strategies for saving and investing while paying down debt, financial planning worksheets, and alternative approaches to save for retirement.

“A Financial Wellness program can have a positive impact on your business; the 2020 John Hancock Retirement financial stress survey found that 86% of retirement plan participants feel it is important for employers to offer financial wellness programs,” says Abigail Benham, of John Hancock Retirement, Chair of the Editorial Board that wrote the guide.

This VIEWPOINT is the second of seven the Retirement Advisor Council plans to publish to guide employers and their financial advisors through the construction of financial wellness programs.  Future VIEWPOINTS will examine the return of investment to the employer of a financial wellness program, and how to tailor a program to the unique concerns of executives.

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

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