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Corporations are sponsoring more unbiased Financial Literacy Education for their employees than ever before. Here are just a few of the current economic trends motivating companies to offer this low-cost Employee Benefit:
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FDIC, November 2008
4.4 Million homeowners are expected to face foreclosure by the end of 2009 |
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Congressional Budget Office, October 2008
Americans' retirement plans have lost as much as $2 trillion in the past 15 months |
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Benefits Management Forum, September 2008
ERISA-related litigation is the future of corporate litigation |
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Kaiser Family Foundation Survey, September 2008
Employees will pay high-deductibles and lose healthcare coverage in 2009 |
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Commerce Department, September 2008
15 million Americans use Payday lenders every month |
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New York Times, August 2008
Nearly 10 million Americans have lost all of their home equity |
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FDIC, August 2008
117 banks are in financial trouble, a 30% increase from the 1st Quarter of 2008 |
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Ernst & Young Study, July 2008
Employees who are 7 years from retirement will have to reduce their standard of living by 37% if they want their money to last during retirement |
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2008 EBRI Survey
Only 5% of American workers are concerned about retirement; most are concerned about day-to-day financial decisions, mortgage problems, and making ends meet every month |
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National SHRM Conference – June 2008
Workers report that they are one major setback away from financial disaster |
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Gallop Poll, July 2008
Nearly 50% of Americans’ greatest concerns are how to pay rising gas, food, and energy costs |
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NBC News, September 2008
Employees now pay 200% more on healthcare
than they did just four years ago. |
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Wall Street Journal
Over 30% of U.S. households have NO financial assets,
and another 20% have insignificant holdings. |
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Employee Benefit News
New research demonstrates that many Americans are financially illiterate, making them poor captains of their 401(k) and pension investments. Surprisingly high numbers of people don't comprehend basic financial concepts, indicating a role for employers to educate their workers with Financial Literacy. |
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Conference Board Report
74% of older employees surveyed said they were not planning
to retire because they do not have sufficient financial resources. |
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CBS News
"Universal Default" now allows all creditors to hike interest
rates up to 35% when consumers make too many credit applications
or are late on a payment of another card. |
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American Bankers Association
Eight million Americans are delinquent on their credit cards. |
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The Washington CPA
Americans spend $1.22 for every dollar they earn.
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Department of Labor
Experts predict ERISA litigation to be the future of litigation. In just one
year, ERISA-related lawsuits jumped from a handful to over 11,000! |
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The Federal Reserve
The average employee's consumer debt is
greater than his or her annual income.
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National SHRM Conference
Workers report that they are one major
setback away from financial disaster. |
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2008 EBRI Retirement Confidence Survey
Over 80% of workers today do not feel they will
have the money to retire. |
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Fidelity Retirement Index
The typical American has just $18,750 saved
for retirement. |
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The Federal Reserve
The average employee spends 28 hours each month
worried about, calculating, or stressed over finances,
costing employers $5,000 a year in lost productivity! |
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