This is a short interview titled “Innovation in 401(k) Retirement Planning – Rachel Weker,” published by 401(k) Specialist Magazine on May 12, 2016. The interview features Rachel Weker from T. Rowe Price, discussing innovations in retirement planning, particularly focusing on financial wellness.
Key Points Discussed:
- Financial Wellness Focus: Rachel Weker emphasizes the importance of financial wellness in retirement plan services. T. Rowe Price is focused on addressing the broader financial needs of employers and individuals, helping them achieve financial success both in the short term and long term.
- Evolving Success Metrics in 401(k) Plans: The interview touches on how success in 401(k) plans has evolved from focusing on adoption rates and deferral rates to retirement income. However, the importance of these metrics depends on the specific objectives of the employer, which may also include employee satisfaction and retention.
- Differences from Traditional Financial Education: Financial wellness today is more holistic compared to traditional financial education. It aims to address immediate financial needs while simultaneously saving for long-term goals, recognizing the broader financial situations of individuals.
This video provides a brief yet insightful look into the current trends and future directions in retirement planning with a focus on financial wellness.
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 401(k) Specialist and Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots. Experienced financial services content executive specializing in creative new media delivery. He joined the American Retirement Association in 2023 as Chief Content Officer, overseeing communications for the organization, as well as its sister organizations.
