Employer Update

Almost six in 10 U.S. employees report feeling stressed about their finances, according to a 2023 survey by professional services titan PwC, and one in three says that money worries have negatively impacted their productivity at work.

Employers can help lower the pressure of financial worries by promoting VRS financial wellness resources during April, which has been designated Financial Capability Month and includes America Saves Week, April 8-12.

America Saves Week aims to spread the word about the importance of making savings a building block of personal financial health. Each day of next week carries a dedicated theme. The myVRS Financial Wellness resources list.

Note:
Access to some of the videos, courses and tools below requires logging in to myVRS.

Monday, April 8

Saving Automatically

Read: Try Automatic Deposits for Stress-Free Saving

Tuesday, April 9

Saving for the Unexpected

Read: How to Save for the Unexpected

Tool: Are You Prepared for a Financial Emergency?

Wednesday, April 10

Saving for Major Milestones

Read: How to Save for Major Milestones

Take a course: Saving for Goals

Thursday, April 11

Paying Down Debt Is Saving

Read: Getting Started With Managing Debt

Take a course: Getting out of debt (and avoiding it in the future)

Friday, April 12

Saving at Any Age

Read: Saving for Retirement at Any Age and The Power of Habit as It Applies to Personal Finance

Three More Ways to Promote Employees’ Financial Wellness

Clip these three ideas for promoting financial wellness and use in employee newsletters or emails later this month or anytime.

1. Why budgeting is a core financial skill. Becoming savvier about money starts with knowing your income and expenses and creating a budget you can live by. For help creating your first budget, check out Getting Started with Budgeting.
2. Map out your retirement forecast. Who doesn’t like to daydream about retirement? You’ll get there—but you must have a plan. Log in to myVRS and use the myVRS Retirement Planner and Benefit Estimator to help you project your income and expenses in retirement and assess your retirement readiness.
3. Don’t forget the emotional side of money. Financial wellness is more than numbers. Emotions may play a significant role in your skill and comfort managing money. Consider getting a quick assessment of your money personality.

For a deeper dive, take a self-paced course on managing financial stress.

Check Out Promotional Toolkit for More Ideas

The handy myVRS and myVRS Financial Wellness Promotional Toolkit for VRS Employers is your go-to source for strategies to encourage employees to comfortably use myVRS and myVRS Financial Wellness resources.

The toolkit includes sample emails, intranet and social media messaging you can use to increase awareness among your employees, plus flyers you can print and post. You can also download any graphics included in the kit to use in employee newsletters, emails or social media posts.