MADISON, Wis. – As part of National Retirement Security Week this week, CUNA Mutual Retirement Solutions said it will provide plan participants with a set of tools to help them reflect on their personal savings journeys and make sure they are on target to reach their retirement goals.
2019 marks the seventh year CUNA Mutual Retirement Solutions has participated in this national initiative, the company said.
The theme for this year’s program is “Take Control of Your Financial Fitness Story.” The campaign invites employees to address their personal financial challenges and opportunities by exploring the new Financial Fitness program featured on their retirement plan website, BenefitsForYou. The program starts out with a Financial Fitness Checkup and offers personalized education tracks, representing the full circle of financial wellness topics.
Participants Want Resources
“This campaign, along with the new Financial Fitness program, delivers education topics that our retirement plan participants said they wanted to learn about,” said Paul Chong, senior vice president, CUNA Mutual Retirement Solutions. “They want more resources to help them overcome key financial wellness challenges, including budgeting, managing debt and smart savings practices. So that’s what we gave them.”
According to the company, early usage of the new program validates that retirement plan savers want to learn more about core financial wellness topics, including budgeting and managing debt, which was selected as a top education priority by participants in CUNA Mutual Retirement Solutions’ 2018 Participant Retirement Education Preferences Survey.
Participant Preferences
The top three content selections for early career users of the new Financial Fitness program, as of August are:
- Building a Budget
- Managing Your Debt
- Living within Your Means.
Mid-career readers indicated preference for the following top three choices:
- Managing Your Debt
- Building a Budget
- Building an Emergency Fund.
Savers approaching retirement were drawn to the following top three selections:
- Social Security, Medicare and Retirement
- Living within Your Means
- Determining Retirement Needs.
‘Financial House in Order’
“Early usage of this new program tracks with what our savers asked for in our 2018 survey – resources to help them overcome challenges and unlock ways to save more,” said Chong. “People want to get their financial house in order, so they can truly control their financial stories.”
CUNA Mutual Retirement Solutions said it is promoting the campaign to more than 6,000 sponsors of defined contribution retirement plans across the country, including small and medium-sized business and credit union clients. Employer resource kits include a set of workplace posters, and employee message and announcement talking points to encourage employees to use the new program.
For more info: BenefitsForYou.com.