Ohio Deferred Compensation Now Offers Enriched Financial Well-Being Platform For Current and Retired Members



The Ohio Public Employee Deferred Compensation Program, a 457 (b) supplemental retirement plan for all Ohio public employees, offers the award-winning Enrich â„¢ financial wellness platform to more than 243,000 plan members. Ohio DC.

Columbus, OH, June 30, 2021 – (PR.com) – The Ohio (Ohio DC) Public Employee Deferred Compensation Program and San Diego-based financial education company iGrad have partnered to deliver the Award-winning Enrich â„¢ financial wellness platform to over 243,000 Ohio DC attendees.

Ohio DC is a 457 (b) supplemental retirement plan for all Ohio public employees. The program is a public not-for-profit organization that was established in 1976 by state law.

Ohio DC’s goals with the Enrich offering include increased financial literacy, improved financial well-being, and reduced financial stress.

“With Enrich, Ohio DC hopes to remove financial barriers that can keep participants from achieving their dreams by providing them with fun, easy-to-use tools to improve their personal finance skills,” said Christina Elliott, executive director of Ohio DC. “Enrich is highly respected in the financial wellness industry and I want to encourage all of our participants to access these free and strong financial wellness resources. “

The platform, which Ohio DC attendees can access to https://ohio457.enrich.org, offers the Your Money Personality ™ Financial Behavior Assessment which analyzes the financial “personality” of each user. The interactive and mobile-friendly platform also provides:

– Financial education courses with personalized action plans on topics such as budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning and Moreover
– An investment allocation analyzer
– A student loan tracker
– Personal finance calculators and real-time budget tool

Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of development. life.

The Enrich platform includes dynamic tools and courses, providing a highly personalized learning experience on financial topics such as student debt, mortgages, budgeting, investing, retirement, and long-term care.

A report from the Center for State and Local Government Excellence [1] published in April 2020 found that only 29% of state and local employers offer financial literacy programs to their workforce, while 68% of public sector employees would participate in these programs if offered. .

The report found that even before the pandemic, 88% of those polled worried about their personal finances and financial decisions, and 66% said they were worried at work.

According to a 2021 Capital One CreditWise survey [2], 73% of Americans rank finances as their main source of stress.

To combat financial stress, Enrich users are asked to update their stress score approximately every four months to assess the correlation between improved financial well-being and stress levels. Data from 2019 shows that as Enrich participants improved their financial literacy, their stress levels decreased.

Additional Enrich the data found positive behavior changes as a result of participating in the program, including:

– 27% increase in emergency savings funds to cover three to six months of expenses
– 28% increase in the number of fully paid credit cards each month
– 32% increase in the number of employees who manage to reach their financial goals

“Enrich can help people at all income levels and at all stages of life,” said Kris Alban, executive vice president of iGrad. “Ohio DC is demonstrating the importance of financial well-being by offering Enrich to public sector employees, who are part of a group that wants to engage in behavior-changing financial education. “

About iGrad
iGrad is a San Diego-based financial technology company that provides artificial intelligence-based financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers, and more than 300 financial institutions. IGrad’s Your Money Personality â„¢ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Award for Adult Education Program of the Year. iGrad is one of three 2020 winners of the inaugural Barron’s Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad also received the 2019 Eddy Award for Financial Well-Being by Pensions & Investments for its Enrich platform. For more information on the iGrad platform, visit https://www.igradfinancialwellness.com. For more information on the Enrich platform for employers and financial institutions, visit https://www.enrich.org.

[1] slge.org/news-posts/new-research-shows-state-and-local-public-employees-concerned-about-their-personal-finances
[2] www.cnbc.com/select/73-percent-of-americans-rank-finances-as-the-number-one-stress-in-life/


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