Employee Education

Most experts say retirees will need 75%-80% of their pre-retirement income.  Yet more than 40% of middle-age households won't be able to replace even half of what they made on the job, according to a study by the Economic Policy Institute.  And nearly 20% will have retirement incomes below the poverty line.

Building a Successful Education Plan
As you develop an education program, it is important that you document goals – so at review time, you can evaluate against those goals, which typically include improving:

  • Participation & contribution rates
  • Employee appreciation of the benefit provided
  • Overall diversification of participant accounts
  • Compliance with ERISA communication requirements

Once you understand the components of a successful education program, seek out tools and guidance to develop and implement a program that can be monitored for effectiveness.

Understanding the Needs of Your People
When it comes to educating participants, each department or worksite has a unique set of demographics that must be understood. Employees often view their retirement plan in a different light than their employer. Understanding issues employees deem important is essential. At a minimum, these issues can include:

  • Investment education & advice
  • Loan provisions
  • Employer match
  • Understanding expenses
  • Finding ways to save each month
  • How 401(k) contributions affect pay
  • Portability

Include employee suggestions to boost overall interest and engagement with the plan. If you want to be successful, understanding the perspective of your workforce is essential.

Let Lumin Financial partner with you, to develop the best education plan for your employees. By taking the time to understand your company and employee's needs, we can create the most effective plan to suite you.



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Investment Updates

Investment advisory services offered through Lumin Financial LLC, which is an independent Registered Investment Adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed on this site.


Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.