Resources

Reports and Articles

• Annual 401(k) Benchmarking Survey, 2005/2006 Edition, Human Capital Practice of Deloitte Consulting.
• “The Ariel-Schwab Black Paper: A Decade of Research on African-American Wealth Building and Retirement Planning”, published by Ariel Mutual Funds and Charles Schwab, October 2007.
• “How do retirement plans affect employee behavior?”

Websites with Tools and Information

General:

• 360 Degrees of Financial Literacy- Your Money- Your Life is a website that provides access to vast financial planning resources and tools focused on the various stages of life. Sponsored by the American Institute of Certified Public Accountants.
• American Bankers Association provides a range of on-line financial education resources.
• Choose to Save is a program of the Employee Benefit Research Institute's Education and Research Fund. The website also has many useful personal finance calculators.
• Mind Your Money is a program developed by U.S. Bank and the Economics Center for Education and Research at the University of Cincinnati to help you understand your current financial situation and play out various scenarios. Knowing your options and making well-informed decisions will help you to achieve financial security.
• MoneySmart is a no-cost personal financial education program developed by the FDIC. It may be delivered via classroom instructor led sessions, an individual self-paced Internet program, or print materials. The program is available in several languages.
• Retirement Made Simpler provides information on automatic enrollment for both employers and employees.
• U.S. Financial Literacy and Education Commission is the U.S. government's website dedicated to teaching all Americans the basics of financial education. Whether you are planning to buy a home, balancing your checkbook, or investing in your 401k, the resources on MyMoney.gov can help you do it better.
• Wells Fargo offers a range of free online financial education tools and resources for young people and adults that help build personal money management skills.

Small Employers:

• Department of Labor has information geared to helping business owners and consumers understand and select a retirement plan
  • www.dol.gov/ebsa/pdf/choosing.pdf
  • www.dol.gov/ebsa/pdf/savingsfitness.pdf
• Small Business Association is an independent agency of the federal government that serves to aid, counsel, assist and protect the interests of small business concerns. The link below is to a brochure providing an overview of retirement planning for small businesses.
  • www.sba.gov/services/training/nationwide/SBAGuide_final.pdf

Community-Based Programs

This list is a sampling of the many financial education resources available in our community. Each offers different services; if you are looking for a particular type of program it is best to call or visit their website. Programs or services may include budget and money management, debt management, home ownership education, bankruptcy counseling or foreclosure prevention. For more information call United Way 2-1-1™.

• AccountAbility Minnesota A nonprofit agency dedicated to providing tax preparation and accounting services to individuals and small businesses with limited resources by leveraging volunteer resources.
• Auriton Solutions A nonprofit agency helps individuals in immediate financial crisis by providing the education, and action plans that can help restore financial balance to their lives.
• Children's Home Society & Family Services A nonprofit agency that provides face-to-face debt-management counseling, educational workshops for first-time home buyers, and refinance education.
• Family Assets for Independence in Minnesota (FAIM) Lists financial education programs throughout Minnesota.
• FamilyMeans Certified Consumer Credit Counseling Services
• Financial Rehab Inc. Financial Rehabilitation Inc. (FRI) has certified credit counselors who provide financial counseling.
• Get Checking (Lutheran Social Service) An educational program designed to help consumers gain access to mainstream financial services regardless of their banking history.
• LSS Financial Counseling Service Certified Consumer Credit Counseling Services. Online budgeting tools and statewide locations.
• Thrivent Financial Lifelong Resources, a subsidiary of Thrivent Financial for Lutherans offers the Financial Fitness Club program, a 4-part DVD series that helps everyday people get financially fit. Each energizing one-hour session focuses on a different financial topic. Financial knowledge is strengthened through a fun, supportive and interactive group setting. No financial products or services will be sold. The website also has useful personal finance calculators.
• Twin Cities Compass
• The Village Financial Service Center
  • www.thevillagefamily.org
  • www.helpwithmoney.org
  • moneyhelp@thevillagefamily.org
• Working Family Resource Center supports and educates working families by sending work-life experts into businesses to present seminars on a variety of work-life topics. Work-life specialists belong to national organizations, keep up with the latest research and best practices, and use current thinking to provide high quality educational services to large and small companies.

Case Studies

See Case Studies for summary examples of what other organizations have done to improve participation in retirement savings programs. Many of these tactics can also be applied to increasing participation in Direct Deposit.