Investment education is one of benefits managers’ top priorities. In addition to helping employees take responsibility for their personal financial security, these programs also should increase participation in company-sponsored benefits offerings — adding value to the benefits package without adding benefits costs. Here are some questions to help you evaluate your current program:
- Is the financial education curriculum broad-based or topical in focus?
- Does the curriculum address generic financial concepts or vendor-specific products?
- Does it provide an overview of retirement options or can it be customized to your company’s specific retirement plans?
- What is the instructor’s background, training and experience?
- Is the program varied in its delivery with applicability for adult learners?
- Is it convenient for employees to attend at the workplace?
- Are spouses/personal guests encouraged to attend?
- Does the program provide an opportunity for participants to meet with the financial educator/ adviser to translate knowledge into action?
- How is the financial educator/adviser compensated?
- How does the program provide ongoing education to all employees?
SOURCE: Rick Storms, assistant vice president; ReliaStar Life Insurance Co., Minneapolis
Workforce, December 1997, Vol. 76, No. 12, p. 52.