RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Opinion

Employers Put Greater Focus on Worker Finances, BofA Study Finds

Rate Captain by Rate Captain
September 23, 2021
in Opinion, Research, Wealth
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

A whopping loss of $35.75 billion was recorded by the top 4 richest

Musk Spent $2.64 billion for Majority Stake in Twitter.

Oil prices bullish, hits highest level since 2014

Employers are broadening the ways they support their workers’ current and future financial needs, according to a new study from Bank of America Corp.

About 95% of employers now report feeling a sense of responsibility for the financial wellness for their workers, up from 81% in 2015. A greater number of employers are offering financial-wellness programs to staffers, with 46% now doing so, up from 40% last year, according to the study, released Wednesday

More companies are offering benefits to “cover all aspects of an employee’s life for the long term,” including physical, mental and financial health, Kevin Crain, head of thought leadership for retirement and personal wealth solutions at Bank of America, said in an interview. Almost 1,400 employees and 834 firms nationwide were interviewed from late December through early February for the study.

“Financial wellness is no longer just a phrase, it’s a reality,” Crain said. Education is a large part of the push, with more than two in five employers now offering access to financial advisers and other programs for developing good financial habits, the survey results show.

While benefits were already being enhanced before Covid-19, the pandemic accelerated companies’ efforts to provide employees immediate access to emergency funds, Crain said. During the health crisis, workers began withdrawing funds from their 401(k) retirement accounts in numbers not previously seen, pushing employers to offer alternatives, he said.

“The role of workplace benefits and wellness programs in improving employees’ quality of life is more important than ever, and it’s encouraging to see higher reported well-being among employees amid the pandemic,” Lorna Sabbia, head of retirement and personal wealth solutions for Charlotte, North Carolina-based Bank of America, said in a statement.

Areas now covered by employers’ financial-wellness programs include saving for college, managing debt and planning for health-care costs, according to the study.

Previous Post

Northwestern Alumni Couple Donates $480 Million

Next Post

Fake CEOs, Online Dating Scams Push Up U.K. Bank Frauds by 30%

Related News

A whopping loss of $35.75 billion was recorded by the top 4 richest

A whopping loss of $35.75 billion was recorded by the top 4 richest

by Rate Captain
May 6, 2022
0

On Thursday, several of the top four billionaire-owned companies, including cloud computing, e-commerce, and household IT names, were battered, wiping...

Musk Spent $2.64 billion for Majority Stake in Twitter.

by Rate Captain
April 6, 2022
0

Elon Musk invested a total of $2.64 billion for his current stake in Twitter, according to an SEC filing released...

Oil prices bullish, hits highest level since 2014

by Rate Captain
February 15, 2022
0

Prices of the black liquid hit their highest level in more than seven years in the Asian session today as...

Primary Cause of Food Inflation in Nigeria is Transportation Cost – CBN

by Rate Captain
January 26, 2022
0

The Central Bank of Nigeria (CBN) has stated that transportation cost is the primary instigator of food inflation in Nigeria....

Next Post

Fake CEOs, Online Dating Scams Push Up U.K. Bank Frauds by 30%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Telcos fault FG’s move to impose new GSM phone call tax

Telcos fault FG’s move to impose new GSM phone call tax

May 24, 2022
European Commission Proposes a Halt in Ukrainian Export Duties

ECB warns that unbacked crypto assets represent a risk to financial stability

May 24, 2022

Popular Story

  • CBN governor respond to APC 100M president form

    BREAKING: CBN raises benchmark interest rate to 13%

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
  • Investment Bank, JP Morgan predicts Foreign Exchange Rates from 2022-2023

    0 shares
    Share 0 Tweet 0
  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • BNP Paribas has joined JPMorgan’s blockchain-based network.

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.