Literaturnachweis - Detailanzeige
Autor/inn/en | Horwitz, Edward J.; Klontz, Bradley T.; Zabek, Faith |
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Titel | A Financial Psychology Intervention for Increasing Employee Participation in and Contribution to Retirement Plans: Results of Three Trials |
Quelle | In: Journal of Financial Counseling and Planning, 30 (2019) 2, S.262-276 (15 Seiten)
PDF als Volltext |
Zusatzinformation | ORCID (Horwitz, Edward J.) |
Sprache | englisch |
Dokumenttyp | gedruckt; online; Zeitschriftenaufsatz |
ISSN | 1052-3073 |
Schlagwörter | Intervention; Employees; Retirement Benefits; Participation; Program Effectiveness; Behavior Change; Money Management |
Abstract | Despite decades of retirement plan enrollment meetings, many employees fail to fully engage in their employer-sponsored retirement plans. Under the framework of the Transtheoretical Model (TTM) of Behavior Change, this study examines the effectiveness of a financial psychology intervention designed to increase engagement in employer-sponsored retirement plans across three employee groups: 107 employees of a regional bank, 43 employees of a custom manufacturing company, and 48 employees of a construction company. Following the intervention, significant changes in plan participation, contribution rates, and one-on-one follow-up meetings with financial advisors were observed. Thirty-eight percent of previously unengaged employees became plan participants, 68% requested and held meetings with financial advisors, and contribution rates increased by 39%, resulting in a total $199,445 increase in first-year annualized contributions and employer matching funds across the three groups. (As Provided). |
Anmerkungen | Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp |
Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
Update | 2024/1/01 |