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New PFEEF President
Judith N. Cohart became the new president of the Personal Finance Employee Education Foundation on January 1, 2010. She has excellent credentials and is extremely well prepared to offer leadership to PFEEF. You may know Judith through her roles at the AARP Foundation, the National Foundation for Credit Counseling or the Association for Financial Counseling and Planning Education. Please join us in welcoming Judith. |
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Increase Your Company's Productivity through Financial Education
Employers can now estimate the value of providing financial education workshops to their employees through our ROI (Return on Investment) calculator. Go to www.personalfinancefoundation.org to use this valuable tool. If you use one of our affiliated organizations to educate your employees through workshops, online courses, or money coaching, we will work with you to do pre-and post-testing to show how your company has increased its productivity.
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Welcome to the Personal Finance Employee Education Foundation Newsletter
Please join others in staying informed about the importance of Employee Personal Finance education through our monthly newsletter.
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PFEEF's Mission
To promote and facilitate financial education in the workplace. The PFW Scale™, Return on Investment Calculator, the Financial Education Providers List, as well as other resources will enable employers to understand that employees who have their finances in order will be more productive.
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Featured Employer
McLeod Health's Financial Wellness Programs Drive Bottom-line Results.
More than 450 McLeod Employees have been through the financial education initiative at McLeod Health in Florence, South Carolina. The results have been absolutely phenomenal, with over $1,476,000 in debt paid off or new savings generated during the 13 week class! Further, the average financial wellness of class participants has increased over 43% as measured by the Personal Financial Wellness Scale™© assessment tool from the Personal Finance Employee Education Foundation. Before taking this course, participants' average Financial Wellness score was 4.3 out of a possible 10. After the 13 week class, the scores improved over 2 points to 6.3.
"These results are even more remarkable considering the current economic climate at a time when most people in the U.S. are very worried about their personal financial well-being," said Shannon Carr, Assistant Director of Employee Relations. "It has been incredible seeing employees, family members, and accountability partners get excited about taking control of their money." |
New Overdraft Rules from the Federal Reserve Effective July 1, 2010
The Federal Reserve will implement new rules giving debit and ATM card usersadditional options regarding overdrafts. Although the rules become effective on July 1, 2010, in the coming months, banks, credit unions, and other financial institutions must offer consumers the ability to make decisions about overdraft services for transactions made with their debit or ATM cards. The Federal Reserve's online publication, "What You Need to Know: New Overdraft Rules for Debit and ATM Cards", provides an explanation of how the rules will affect existing and new account holders.
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| Painting a Realistic Retirement Picture
It's safe to say that few 401(k) plan participants likely understand how their account balance will translate into a monthly income once they retire.
Click here for the full story. |
Bending, not breaking
When tough times require budget cuts, employee training usually is one of the first line items in CFOs' crosshairs.
However, that may not be the case in this recession, at least for large companies that put a high priority on workforce learning, says the American Society for Training and Development.
ASTD's "2009 State of the Industry Report," released late last year, states that "despite the worst economic conditions in several decades, business leaders continued to allocate substantial resources to the learning functions in their organizations [in 2008]." While training and development suffered cuts along with all other operations, U.S. organizations "maintained a strong financial commitment to employee learning." |
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We appreciate your interest in the Foundation.
Sincerely,
Judith Cohart, President
Personal Finance Employee Education Foundation Inc |
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