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Success Story

Moving the needle on financial well-being with myFiTage™

Retirement|Health and Benefits

June 2017

From increased health savings account contributions to improved long-term savings by those at-risk to retire past their goal date, the results are clear: myFiTage changes employee behavior and boosts their financial independence. Unlike other financial well-being programs, myFiTage introduces the concept of a FiT Age — financial independence target age—that’s both tangible and motivational. The results tell the story.
Global chemical company recognizes the important of financial well-being on workforce engagement and productivity

Problem: The employer wanted to provide their population with a tool that enhanced their financial acumen and ability to retire with confidence.

Solution: The leadership team championed a company-wide educational effort as well as a training program on the varied benefits of myFiTage. Of the 40% of employees who’ve used the web portal, two-thirds saved their personal financial data or financial independence estimates.

Results: In the first five months, myFiTage users lowered their FiT Age — the age at which they’ll be financially independent — by six months on average.

Large telecommunications company promotes financial independence improvement across salary levels

Problem: The employer had tried a few approaches to improve financial well-being with limited results, especially with low and middle income workers.

Solution: The employer launched an education campaign and offered employees a $50 reward for using myFiTage. Of the 38% of union workers and 51% of nonunion employees who’ve used myFiTage, one-half and one-third, respectively, have saved their personal financial data to improve their financial fitness estimates.

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