Alliance Benefit Group (ABG) is committed to providing programs that can help plan sponsors provide their employees with access to financial wellness tools and encourage greater participation in their retirement plans. With this in mind, we are pleased to introduce SmartDollar, an exciting new resource available through ABG.
SmartDollar is a holistic approach to retirement education from Dave Ramsey. Dave Ramsey is considered one of America’s most trusted experts on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership and Smart Money Smart Kids. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 540 radio stations.
The SmartDollar program’s goal is to teach retirement plan participants sound financial principles so that they can more effectively manage their finances and plan for a comfortable retirement. SmartDollar is available to 401(k) plan participants through their retirement plan and can be accessed online through the plan’s participant website.
“The financial health of employees is the fastest rising issue on an employer’s worry list these days,” said Don Mackanos, President of Alliance Benefit Group, LLC. “Giving our clients the opportunity to help their employees through SmartDollar will combat those worries and get them on the right track financially.”
How SmartDollar Helps Participants
The goal of SmartDollar is to enable employees to proactively tackle the issues that may be preventing them from saving more for retirement. The SmartDollar program is comprised of 17 video lessons that address a number of important financial topics including:
- Eliminating debt
- Saving for emergencies
- Spending wisely
- Saving for retirement
SmartDollar also includes a variety of financial tools including budgeting, quizzes, and reporting that allow participants to track their progress towards their goals. A unique Ask Dave feature provides participants with the ability to get answers to questions they may have via prerecorded responses to over 3,000 questions Dave Ramsey has received over the years on his popular financial wellness radio show.
Brian Hamilton, Vice President of Financial Wellness for Dave Ramsey said, “With 70% of Americans living paycheck to paycheck, it’s no wonder most employees aren’t on track for retirement. Through this program, retirement readiness will be attainable for millions of employees and their families as they walk through a proven plan that teaches them how to change bad habits, get control of their money, and start investing for the future.”
Easy To Implement For Plan Sponsors
From a plan sponsor’s perspective, implementing SmartDollar is designed to be easy. Comprehensive marketing and enrollment tools are provided to plan sponsors and the program can be customized to meet specific company needs and personalized for employees. Below is a link to the SmartDollar Video that is available to participants.
How To Get Started
Helping participants change their behavior towards money and in turn, use their largest wealth-building tool, their income, to save and invest instead of paying consumer debt can ultimately increase retirement plan participation and enhance retirement readiness over the long-term. For more information on SmartDollar and the benefits to your company and its employees, contact your ABG representative.