MADISON, Wis. – CUNA Mutual Retirement Solutionshas introduced Financial Fitness, a new online program now available to all retirement plan participants.
According to CUNA Mutual, the interactive program goes beyond simple education by featuring a financial fitness assessment and score, personalized curriculum based upon needs and preferences, game mechanics, and one-on-one support from an internal team of retirement consultants. It is available for all plan participants through CUNA Mutual Retirement Solutions’ BenefitsForYouwebsite, and there is no cost to participants or plan sponsors, the company said.
The program was designed by Financial Fitness Group, which has more than 20 years’ experience and which has provided effective financial education to more than four million participants, CUNA Mutual Group said.
“Financial Fitness Group has an impressive track record, having helped millions of workers prepare themselves for a more successful retirement,” said Paul Chong, senior vice president, CUNA Mutual Retirement Solutions.
20-Million Data Points
Financial Fitness Group’s proprietary Financial Fitness SCORE is research and academic-based, providing organizations with more than 20 million data points to benchmark participants' aptitude, behavior, and confidence regarding personal finances. It was built to help individuals and organizations assess, benchmark and ultimately change the financial fitness of the American workforce, CUNA Mutual Group explained.
“It’s unfortunate so many Americans are not saving enough to fund the type of retirement they’ve imagined,” Chong added. “As many of our participants indicated in our 2018 Participant Retirement Education Preferences Survey, it comes down to financial wellness issues. They’re looking for information to help them overcome obstacles and get their financial house in order, so they can save more for the long-term. Financial Fitness supports our corporate mission of helping people achieve financial security.”
Top Three Articles
The new Financial Fitness content was introduced to some early-users on BenefitsForYou in February. Analytics show the top three articles selected by users reflect core financial wellness topics: 1) Budgeting Made Simple, 2) Managing Your Debt, and 3) Living within Your Means, CUNA Mutual noted.
More information on the importance of financial wellness in the workplace is highlighted in A Case for Financial Fitness, an eBook recently developed for CUNA Mutual Retirement Solutions plan sponsor clients.