401(k) Education Must-Haves
By John Iekel
Stressing the 401(k) plan in an education program about it “makes sense,” says Carosa. But it should not ignore financial matters beyond the plan, he argues, saying, “just as there’s life beyond the 9 to 5 desk, there’s financial life beyond the 401k plan. There are basic considerations that impact everyday living for all workers.” Carosa posits that teaching plan participants about their overall financial health will benefit them in retirement as well as in the short term. He cites Amy Ouellette, Director of Retirement Services for Betterment for Business in New York City, and her suggestion that employers personalize financial education and tools that they provide, since employees’ needs and circumstances vary.