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| RESEARCH - Finances Running Low, Stress Running High
A survey from employee assistance provider ComPsych finds 92% of employees say financial worries are keeping them up at night, with top concerns being:
- Cost of living, 30%
- Credit card debt, 29%
- Mortgage payments, 14%
- Retirement accounts, 13%
- Kids' tuition, 3%
- Health care costs, 3%
Employee Benefit News, January 2009, p.50 |
FAVORITE QUOTE
Asked how he felt about the current economic landscape shaped during his tenure as chief of the Securities and Exchange Commission, Arthur Levitt said:
"We've all acted foolishly. We've spent too much money on too many frivolous things."
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NUMBERS - New Research from Hewitt Associates
The average 401(k) plan balance dropped 14%, from $79,000 in 2007 to $68,000 in 2008.
6.0% of workers withdrew funds from their 401(k) in 2008, up from 5.4% in 2007.
22% of employees have a 401(k) loan, which is unchanged from 2007.
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Sign up for Tom's Webcast on "Increase the Bottom Line by Helping Distressed Employee's During Challenging Financial Times"
Dr. E. Thomas Garman, President, Personal Finance Employee Education Foundtation, will present a webcast on Thursday, March 26th, at 1 PM, EST. Presentation will be 25 minutes in length plus Q & A.
Please sign up by e-mailing Mary Moldenhauer, PFEEF Administrative Manager, E-mail.
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Financial Peace Workplace Edition provides the most effective personal financial learning experience available! It combines the expert presentation of financial information, with small group accountability, 12 weeks of personal support with an on-site facilitator, and 15 weeks of hands-on exercises via an interactive online program. Refresher classes are offered nationwide, at no additional charge making this the most comprehensive, cost-effective, financial education program currently available to employers. |
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