HR Happy Hour 357 - Employee Financial Wellness and How Employers Can Help

Host: Steve Boese

Guest: Jamie Kalamarides, President, Prudential Group Insurance

This week on the HR Happy Hour Show, Steve was joined by Jamie Kalamarides, President of Prudential Group Insurance to discuss the increasingly important topic of employee financial wellness, and what employers can do to help their employees with these challenges.

On the show, Jamie shared the most common life events that can lead to employee financial stress or financial insecurity, offered recommendations and tips for employees to reduce financial stress, and talked about some programs and opportunities that employers can offer their employees to help and support them. 

The recent US government shutdown brought the issue of financial insecurity to the forefront, and was an important reminder that a large percentge of the workforce is only one or two missed paychecks or an unforeseen financial emergency away from severe challenges in their lives - which has a follow-on impact at work.

Thanks to Jamie for coming on the show to share his insights. Learn more about Prudential's programs at https://www.prudential.com/employers/financial-wellness. Find the Prosperity Now scorecard at https://prosperitynow.org/

Corrections:

1. Employer matches are not permitted for “after-tax” 401(k) contributions, only for pre-tax and Roth contributions.

2. 401(k) contribution limits for 2019 have increased to $19,000 for before-tax and Roth contributions. Contribution limits across pre-tax, after-tax and Roth increased to $56,000 in 2019.

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