It's wonderful to see the PSCA recognize a program like Aetna's, which goes way beyond the standard text book education program.
Manhattan Beach, Calif. (PRWEB) October 2, 2009
Financial Finesse, the nation's leading provider of unbiased financial education, was recently honored by the Profit Sharing/401(k) Council of America (PSCA) in partnership with Aetna, the leading diversified health care benefits company, as the winner of the PSCA's 2009 Signature Award in Retirement Readiness. The award honors companies who have exhibited excellence in 401(k) plan communication and education.
The award was announced at the 62nd Annual National Profit Sharing and 401(k) Conference and Exhibit held on September 22nd, in Scottsdale Arizona and marks the fifth time Financial Finesse has received the Signature Award in partnership with a client.
"It's such an honor to be awarded for doing what we love and feel is necessary," says Liz Davidson, Founder and CEO of Financial Finesse.
Financial Finesse's unique mission to make unbiased financial education available to all American employees enabled Aetna to roll out a highly successful retirement education program to their employees with the understanding that no financial goal is independent of the others.
"In order to use and understand your retirement options, you have to know how to save, how to plan and make decisions in your other financial goals" says Davidson. "It's wonderful to see the PSCA recognize a program like Aetna's, which goes way beyond the standard text book education program."
The program was designed specifically to provide personalized financial education and guidance to Aetna's diverse workforce of over 36,000 employees. To address the challenges of employees in different locations who had different income levels, learning styles, and financial situations, Financial Finesse and Aetna developed a large scale, multi-channel retirement and financial education benefit capable of accommodating all employees on a personalized level.
Today, Aetna's retirement education program consists of:
- Face to face consultations with a Certified Financial Planner ™
- Over the phone guidance
- Webcasts for all employees located throughout the country
- A patent pending online platform that provides employees with a personalized financial wellness assessment and customized learning plan.
"The goal was to customize as much as we could to help our diverse array of employees," says Carol Klusek, Head of Retirement Benefits for Aetna. "Financial Finesse was the provider we knew could take the job on and do it in a way that kept our employees' personal financial needs at the forefront."
The partnership, which began in fall of 2007, has achieved strong behavioral change results among Aetna employees. Ninety-three percent of employees who have participated in Financial Finesse's behavioral change program say they have made a major change to their finances within 30 days of receiving the financial education, with the average participant making 3 changes. Top changes include reducing expenses, paying off debt, increasing savings and investing more for retirement.
"Winning this award with Aetna really speaks to why financial education as a whole is so important for employees in planning for retirement," says Davidson. "Without companies like Aetna leading the way in this, I believe we'd be much further behind than we already are in ensuring we are all secure in retirement."
About Financial Finesse
Financial Finesse is the nation's leading provider of unbiased financial education to over 400 corporations who provide financial education to their employees as a free, added benefit. The company offers education in a variety of formats such as live workshops, online resources, a financial helpline and an array of financial topics from budgeting and savings to estate planning and retirement. For more information, visit http://www.financialfinesse.com
Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 37.2 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities and health care management services for Medicaid plans. For more information, visit http://www.aetna.com.
The Profit Sharing/401k Council of America (PSCA), a national non-profit association, advocates increased retirement security through profit sharing, 401(k) and related defined contribution programs to federal policymakers and makes practical assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication available to its members. For more information, visit http://www.psca.org.