Financial Wellness Programs for Executives
Despite their high earnings, and even because of them, Executives face unique financial challenges and financial stress that is apt to impact their job performance. These unique financial challenges include:
- Maintaining a socio-economic lifestyle commensurate with their position, regardless of earnings,
- Limitations on contributions to workplace defined contribution plans by ‘highly compensated employees’,
- Lower percentage of earnings replaced by Social Security benefits,
- Greater risks of loss and increased personal liability because of perceived “deep pockets”
- Benefits that provide inadequate financial protection
- Greater exposure to fraud and cybercrime.