PRUDENTIAL FINANCIAL WELLNESS PROGRAM

Transcription

1 PRUDENTIAL FINANCIAL WELLNESS PROGRAM

2 Table of Contents What is Financial Wellness?...1 Why Financial Wellness Matters...1 Financial Wellness Enaement Prorams...2 Financial Wellness Proram At A Glance...2 Seminar Series...3 Menu of One-Hour Sessions...4 New Beinnins...6 Prudential Advisors Onsite Proram...6 Summary of Participant Survey Results...7 Financial Wellness Diital Capabilities...8 Webinars...9 LINK by Prudential...9 Reportin...9 The Benefits of Financial Wellness...10

3 What is Financial Wellness? Prudential believes financial wellness is when individuals adopt the behaviors that result in: Manain their day-to-day finances Achievin important financial oals Protectin themselves aainst key financial risks Why Financial Wellness Matters Improve Productivity and Enaement Maximize Benefit Dollars Improve Workforce Manaement of employees are distracted by financial issues at work 1 $57 billion early retirement plan withdrawals each year 3 of workers plan to retire later than previously planned 1 of employers say financial issues impact employee performance 2 of employees say financial stress hiher employer costs if employees delay retirement by one year 4 affects their health 1 1 to 1.5% 1. PWC, Employee Financial Wellness Survey, March International Foundation of Employee Benefit Plans, Financial Education for Today s Workforce: 2016 Survey Results, accessed June BenefitsPRO, Stop 401(k) Leakae Now, Feb. 23, Prudential, Benefits Optimization: Insihts into Benefit Plan and Portfolio Desin, With supportin research and analysis conducted by the University of Connecticut s Goldenson Center for Actuarial Research. 1.

4 Financial Wellness Enaement Prorams Your company has choices Financial Wellness Proram At A Glance Prudential Pathways: Holistic financial education seminars at your workplace with no solicitation Seminar Series 25+ one hour topical seminars Workshop to assist employees with completin important financial wellness exercises Employment transition seminars Executive education seminars Delivered onsite at the workplace by local, specially trained, Prudential financial professionals who are selected usin strinent criteria National coverae No cost to you or your employees Employer s benefit plan is interated into the presentation Easy to implement and administer all communications, reistration, satisfaction surveys, data and metrics reportin is handled by Prudential Diital Financial Wellness: Allows all employees to have access to valuable financial wellness content Interactive and insihtful tools Short and relatable educational articles and enain videos Employees personalize their experience based on specific oals and interests Webinars available when offered with onsite seminars Self-serve financial coachin and diitally enabled access to financial professionals throuh LINK, Prudential s technoloy-enabled, human-assisted advisory platform Employers can customize the site with their name, loo and URL Enaement and behavioral metrics reportin available Turnkey implementation, communication, and enaement services Employees contacted via enae more fully with content: 95% complete self-assessments, 30% open their s, and 15% use the financial wellness site 2.

5 SEMINAR SERIES A series of enain onsite financial wellness seminars. These easy-to-understand seminars are desined to teach employees how to best manae their financial house in all areas related to financial wellness. Seminar 1 GREAT STRIDES: Understandin the Fundamentals of Financial Wellness Specifically, we ll cover: Creatin and fine-tunin a budet Fundamental concepts of investin, includin: Payin yourself first Pre-tax investin Tax-deferred vehicles Principles of time and compoundin Dollar cost averain Asset allocation concepts Envision Exercise Retirement Savins Calculator Budet Exercise Map My Retirement Savins and investment vehicles to help meet your lon-term financial oals Challenes in retirement: lonevity risk, inflationary risk, and medical expenses Collee fundin vehicles Activities In-Class Out-of-Class Seminar 2 FOR THE LONG HAUL: Buildin Your Road to Retirement Specifically, we ll cover: Key elements of a retirement plan Buildin your road to retirement Common roadblocks when investin for the future and how to avoid them Be better equipped in retirement to keep oals in focus and on track How to help manae investment risks throuh diversification and prudent asset allocation Map My Retirement Asset Allocation Questionnaire Cash Flow Worksheet RMD Calculator Investin pitfalls and how they can be avoided Developin a plan for retirement income. Creatin a paycheck from the retirement assets you ve accumulated. Overview of Social Security Activities In-Class Out-of-Class Seminar 3 CRUISING ALONG: Protectin Yourself and Your Loved Ones Specifically, we ll cover: Why protectin assets is just as important as accumulatin assets Ways to help protect and secure financial wellness aainst predictable and unforeseen circumstances Various types of insurance, includin: Property & casualty Disability Income Medical Lon-Term Care Life Healthcare in retirement and the role Medicare plays, includin: Parts A, B, C, & D Supplemental insurance HHS.ov Life Insurance Needs Estimator Medicare.ov Medicare Booklet Activities In-Class Out-of-Class Seminar 4 THE JOURNEY CONTINUES: Creatin a Solid Plan for the Future Specifically, we ll cover: The importance of maximizin employee benefits Optional A company representative can provide an overview of the employee benefit packae Common estate plannin concepts includin: Wills Probate Trusts Powers of Attorney Beneficiaries Medical directives Estate plannin pitfalls, includin: Not havin a plan or puttin it in writin Not preparin a custodial areement for minors Nelectin to use common and readily available estate plannin documents to minimize taxes and probate court fees Activities In-Class Out-of-Class Optional: Employee Benefits Overview LifeStaes Folio Estate Plannin/Wealth Transfer Checklist Financial Wellness Checklist 3.

6 MENU OF ONE-HOUR SESSIONS This proram covers a broad rane of topics such as budetin, collee fundin, retirement plannin strateies, tax and estate plannin strateies, and even transitionin from married life. These educational seminars are intended for every demoraphic of employee within your oranization. THE BASICS The Basics of Credit & Bankin Services Establishin and maintainin ood credit can be vital for future financial stability. This session covers the advantaes and risks of usin credit; which bankin services to be wary of; and how to choose and maintain a checkin account. The Basics of Savin & Investin This session provides an overview of the difference between savin and investin. It will also cover the importance of payin yourself first, how interest is calculated, the rule of 72, various types of investments, avoidin credit fraud and more. Financial Challenes That Matter Most When experiencin challenes in your life it is important to make sound financial decisions. This session will provide best practices for rowin and manain your income, protectin your assets and minimizin debt. Strateies for Collee Fundin Payin for collee is one of the major financial decisions you will face in life. This session will provide strateies to save for collee, includin 529 Collee Savins Plans and Coverdell Education Savins Accounts. Don t Try to Predict the Stock Market - Historically makin investment decisions by timin the rise and fall of the stock market has proven to not be the best way to maximize investment returns. In this session you will learn about more tried and true approaches to investin in the stock market. Budetin and Debt Manaement - This session focuses on budetin, how to prioritize your bills and the importance of savin and investin. Student Loans How to Pay Off Your Debt - Graduatin from collee is an excitin time in one s life. Student debt, however, can sometimes make the transition into the workin world difficult. This course discusses the impact student loan debt has on borrowers and provides repayment options and payoff strateies. Is Your Financial House in Order? - This session will cover key concepts such as budetin, debt manaement, protection of assets, preparin for retirement and creatin a financial leacy for your loved ones. Steps to Buyin and Sellin a Home - This session reviews the important decisions and steps that are needed when someone is buyin or sellin their home. RETIREMENT Roadmap to Retirement - This session outlines your journey on the Roadmap to Retirement and discusses actions that you should consider at particular aes to ensure you et the most out of your retirement. Your Social Security Benefits - This session provides an in-depth explanation on the retirement, disability and death benefits of Social Security. Are You Prepared for the Financial Challenes in Retirement? - This session will cover the most common challenes faced in retirement and provide strateies to help create a more secure future. Healthcare in Retirement - Understandin healthcare is important, especially since it will be one of the reatest expenses you face in retirement. This session will hihliht what Medicare covers, understandin out of pocket medical expenses, as well as lon term care and supplemental insurance. We ll also provide helpful tips for preparin now to pay for healthcare in retirement. Retirement Plannin Toolkit - Choosin when to retire is a difficult and important decision that involves a number of issues that you may want to consider in your retirement plannin. This session will provide the tools you need to make an informed decision. 4.

7 MENU OF ONE-HOUR SESSIONS TAXES & ESTATE PLANNING STRATEGIES Takin Control of Your Taxes - This session will focus on learnin how investment decisions in today s challenin tax environment can impact the income you receive in retirement. It s Your Estate, Are You in Control? - Estate plannin is not just about taxes and how to reduce them. In this session we will discuss that it s also about makin sure that your assets are distributed as you wish and to whom you wish. Estate Plannin for the LGBT Community - Estate plannin is very important especially in the LGBT community. This session will provide tips for how LGBT individuals and couples can make sure assets are distributed to whom they wish. What You Need to Know About the Tax Cuts and Jobs Act - In today s tax environment, it s important to consider the tax implications of investment decisions. This session will examine the Tax Cuts and Jobs Act and look at some efficient opportunities that can help manae taxes. ASSET PROTECTION How Insurance Can Help Protect Your Assets - This session will discuss how life, health, auto, disability, lon-term care and homeowners insurance can play an important role in your asset protection plan. What You Should Know About Life Insurance - Life Insurance isn t just to pay for final expenses in fact, it can be used in multiple ways. This session will uncover uses for life insurance and help you determine how much life insurance you may need, as well as, provide an overview of the different types to consider. SPECIALTY Women & Money - Takin Control of your Financial Future - This session will cover results and observations from Prudential s research study Financial Experiences and Behaviors Amon Women and provide an action plan for women to take control of their financial future. Financial Challenes of Transitionin from Married Life - This session is for recently widowed or divorced individuals and provides steps for ensurin a more stable financial future. Financial Challenes of the Sandwich Generation - Carin for children and parents at the same time can be challenin. This session will discuss not only the issues the sandwich eneration faces but also potential solutions. Manain Money for Teens - This session will teach parents of teens or teens themselves how to create a budet, the importance of savins and investin accounts and responsibilities of independent livin. Manain Money for Kids - This session is eared toward youner children and pre-teens and will help frame an understandin of manain money. Topics will include spendin tips, how to set money oals and the benefits of savin. Takin Care of Your Loved Ones as They Ae - This session discusses the various issues careivers face when takin care of ain loved ones and the importance of developin a careivin plan. Teachin Your Children Good Money Habits - It s never too early to teach children about basic money manaement. This session will look at some ae-by-ae questions and lessons to help you reinforce your family s values about spendin, ivin, and savin. WORKING SESSION Pathways Workin Session - Attendees will complete several exercises to help oranize their financial life, identify the type of retirement they wish to have and bein creatin financial strateies. EXECUTIVE SERIES 90 MINUTES EACH Advanced Asset Accumulation - This session will help you ain a better understandin of the financial concepts behind investin within your portfolio, tax plannin, wealth creation and preservation, risk manaement as well as protectin your assets. Learn how to effectively accumulate and distribute deferred compensation funds and common stock options & rants. Advanced Asset Distribution - Attend this session to learn more about distribution of assets and tax sensitivity, strateic deferred compensation and how the assets you ve accumulated can ensure an income stream in retirement. Advanced Estate Plannin Strateies - This session will cover the four-step estate plannin process alon with different types of trusts, portability of exemption of spouses, and more. 5.

8 NEW BEGINNINGS A major chane in employment, like a job loss or retirement, is an impactful event in an employee s life. It s a time when employees most need education about makin benefit decisions and manain their financial wellness. Tap into the expertise of a trusted partner to educate your transitionin employees The New Beinnins financial education seminars can be a ood fit for companies that are: Facin mass layoffs or terminations Offerin early retirement and retirement packaes Have location closures that impact your workers employment New Beinnins focuses on steps employees can take to help improve their financial wellness durin the transition into retirement or to another employer Seminars provide education and tools, as well as outline actions that employees can take to manae their financial and benefit decisions that have to be made. Employers can choose from two seminars: Transitionin Successfully into Retirement: For employees who will retire from the workforce Manain Employment Chane: For employees who will stay in the workforce but not with their current employer Seminars take a deep dive into topics, such as: Transition and portability of benefits Manain cash flow Unemployment compensation Severance packae details Protectin retirement savins Health insurance replacement Social Security Estate plannin strateies PRUDENTIAL ADVISORS ONSITE Employer can request a financial professional to be present onsite as needed or on a reularly scheduled basis. Onsite Financial Professionals can: Answer questions related to overall financial wellness Help employees better understand their benefit plan and how to use it more effectively Conduct a thorouh evaluation of employee s current needs and oals Run complimentary projections for key financial areas (e.., retirement, collee plannin, life insurance coverae, etc.) Attend benefit and/or wellness fairs to support financial wellness initiatives & promote seminar reistration and participation 6.

9 SUMMARY OF PARTICIPANT SURVEY RESULTS 5 Makin financial education a positive experience for employees We re workin hard to ive employees the information and tools they need to achieve financial wellness. That s why we re proud to present the participant survey results from our Pathways financial wellness series. 92% said they were satisfied overall with the proram. 6 95% would recommend the proram to a co-worker or friend. 7 96% said their speaker was easy to understand. 8 94% rated the information as valuable. 8 92% rated the content valuable and relevant. 8 93% said the content was easy to understand. 8 More importantly, our seminars helped inspire participants to take action. 97% plan to maximize their employee benefits. 96% plan to create or update a will. 98% will check and update their beneficiary forms. 97% will create a budet. 95% will rebalance their portfolio. Employer Testimonials: Prudential Pathways has been an interal part of our financial wellness stratey at Cintas. Since rollin out this proram in Auust of 2016, they have proven themselves as reat partners time and time aain. Their coverae map across the country allows us to offer the proram to the majority of our employees at times that are convenient for the location. The speakers are licensed and enain. We have received rave reviews from our employees around the country on their presenters. For our more remote employees, Prudential worked with us to develop a virtual website solution. We are rateful for the time and effort Prudential has put into developin this stron proram! - Cintas Employee Testimonials: Access to presenter to et questions answered. Brouht up items that I have been thinkin about and now feel more confident crossin off the To Do list. Exposure to areas not discussed anywhere else in life (Medicare, insurance). Feelin like I can take control of my finances-finally! 5. Results based on feedback provided by 22,447 participants from January 2015 throuh June Positive ratins of very satisfied or extremely satisfied. 7. Defined as promoters ivin ratins of 7 10 out of an 11-point recommend scale. 7 (very likely) 10 (extremely likely). 8. Positive ratins of very ood or excellent. 7.

10 FINANCIAL WELLNESS DIGITAL CAPABILITIES Financial wellness is important to your employees. Providin employees with access to financial wellness education and tools can help them adopt the behaviors that result in manain their day-to-day finances, achievin important financial oals, and protectin themselves aainst key financial risks. It may also help them better prepare financially for major life events like retirement, as well as settin and achievin other oals. A convenient way to start achievin financial wellness Your employees need to act and the Financial Wellness Center helps makes it easier for them to do so. The center hosts relevant content that enaes employees across a wide rane of topics, includin: budetin, debt manaement, life insurance, estate plannin strateies, collee fundin, and savin for retirement. And it helps them learn on their terms, with content that includes: Over 100 short and relatable educational articles Monthly webinars, which complement our onsite learnin seminars Enain, topic-specific videos Trackin spendin by cateory Interactive and insihtful tools, includin self-assessment and budetin tools Manain personal finances and a budet on a sinle site Consolidatin bank and credit accounts from 15,000 institutions and providers 9 The self-assessment tool drives action to help educate your employees: Prudential can help enae your employees Introductory Banner with portal link on benefits site or intranet Materials at benefit fairs and wellness events Invitations to monthly webinars Personalized monthly s upon reistration Life event trier messain Onsite sinae A simple 20-question survey on key financial behaviors An enain and visual assessment with manaeable steps Provides suested areas of focus to improve financial wellness The budetin tool helps your employees manae their day-to-day finances Manain personal finances and a budet on a sinle site Consolidatin bank and credit accounts from 15,000 institutions and providers Trackin spendin by cateory 9. Employee financial information will not be shared with the employer. 8.

11 WEBINARS Scheduled Webinars 1:00 to 1:30 p.m. ET January 25 February 22 March 22 April 19 May 24 June 21 July 19 Auust 23 September 5, 12, 19, 26 September 20 October 18 November 15 December 6 Is Your Financial House in Order? Takin Control of Your Taxes The Basics of Savin & Investin Roadmap to Retirement Strateies for Collee Fundin It s Your Estate, Are You in Control? Student Loans How to Pay Off Your Debt Financial Challenes That Matter Most Four-Part Pathways Series What You Should Know About Life Insurance How Insurance Can Help Protect Your Assets Retirement Plannin Toolkit Budetin & Debt Manaement LINK BY PRUDENTIAL Fully automated and needs-driven, LINK offers: Financial coachin for every life stae Self-service capabilities REPORTING AND METRICS THAT HELP YOU MEASURE PROGRESS Learn more about how your employees prefer to enae with content, tools and topics they are most interested in. Available metrics include: Access to financial professionals by phone, if requested An interated solution to help optimize existin benefits Financial Wellness Center utilization: Demoraphics and content Self-Assessment tool usae: Areate reportin of employee roups 10 funnel: Open rate, click-throuh rates Financial Wellness views: Assessment results and financial stress trends An effective way to enae employees 11 Portal visitors were 2X more likely to visit the site if relevant content is refreshed reularly 75% of visitors interacted with the content Monthly personalized metrics are well above industry standard: Open rates over 30% Over 20% Click-throuh rates 10. Please keep in mind that s will only be used to send the information noted. Employees will also have the opportunity to opt-out from receivin future s from Prudential if they are not interested in financial education. Prudential is committed to maintainin the privacy of your employees address and the security of our computer systems. 11. Prudential 2016 pilot that involved 90,000 employee participants shows the portal s effectiveness. 9.

12 The Benefits of Financial Wellness Education Employers can: Demonstrate concern for employee well-bein Reduce questions comin from your employees about what to do, which in turn saves time Non-solicitation objective financial education Easily put the proram in place with little administrative time and at no cost Help improve employee satisfaction and productivity Employees can: Receive objective financial education in person from experienced local financial professionals Access online financial wellness education and tools includin articles, videos, assessments and projections Have a dedicated resource who is licensed and reistered to answer all of their questions Attend seminars at their worksite for their convenience and brin uests Learn how benefits fit into their overall financial wellness Provide education to suit the needs of all employees Feel increased satisfaction and improve productivity Inspire employees to improve their financial wellness Reach all employees, reardless of location Learn how to best manae their finances day-to-day Achieve important financial oals and protect themselves aainst key financial risks Contact Your Prudential Representative today to discuss how this workplace solution can help your employees. Prudential, the Prudential loo, the Rock symbol, Brin Your Challenes and Prudential Pathways are service marks of Prudential Financial, Inc., and its related entities, reistered in many jurisdictions worldwide. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Prudential and its representatives do not ive leal or tax advice. Please consult your own advisors reardin your particular situation. These seminars are not intended to market or sell any specific products or services. Offerin these seminars does not constitute an endorsement by the employer or Prudential products or services in any way. You should consult with your employer reardin your specific plan benefits. The speaker of the seminar is a reistered representative of Pruco Securities, LLC (Pruco), a Prudential Financial company