Does financial wellness education increase retirement plan participation?

Any good advisor knows, a successful retirement plan requires more than a robust investment menu. Plan participation is essential, but also one of the biggest challenges. Financial wellness education can increase participation, bolstering plan participants’ chances of a successful, on-time retirement. In turn, this helps plan sponsors by reducing costs associated with retirement-age employees. With American adults experiencing increased financial stress during the pandemic, plan sponsors and participants are especially interested in financial wellness benefits that can help reduce financial stress...