More work and innovation are needed to help employees understand their employer retirement plans.
St. Louis, MO (PRWEB) May 03, 2016
Four Seasons Financial Education (FSFE) recently revealed their 2016 Employee Financial Wellness Survey. This year's survey found that the group retirement plan, such as a 401(k) or 403(b) plan, was the most difficult employer benefit to understand. The survey included a total of 554 employees from around the US.
"This data tells us even more work and innovation are needed to help employees understand their employer retirement plans," said Travis Freeman, president of FSFE. "It likely requires a team effort between the employer, plan advisor and financial wellness program."
In the survey, employees were also able to state they "fully understand all of their benefits." The retirement plan was picked by 39% of employees, while 35% stated they fully understand their benefits. The second most difficult benefit to understand, according to the survey, is the group health insurance plan, cited by 26% of employees. Third place was tied between Health Savings Account and Flexible Spending Account at 20%. Life insurance was found to be the least confusing benefit.
The new FSFE survey also reviewed top financial goals, employer loyalty, benefits understanding, wellness statistics and more. The survey results can be found at http://www.FSFE.com/survey.
About Four Seasons Financial Education
Four Seasons Financial Education is positioned to provide workplace financial wellness services to companies throughout the US to help them improve their bottom line. Since 1986, we have helped corporations increase workplace productivity by focusing on the most important asset of the company - the employees. Services provided through RFG Advisory Group, an SEC Registered Investment Adviser.