Ohio Deferred Compensation Now Offering Enrich Financial Wellness Platform to Current and Retired Participants

The Ohio Public Employees Deferred Compensation Program, an additional 457 (b) retirement plan for all Ohio public employees, offers the award-winning Enrich ™ Financial Wellness platform to more than 243,000 Ohio DC participants.

Columbus, OH, June 30, 2021 – (PR.com) – The Ohio Public Employees Deferred Compensation Program (Ohio DC) and San Diego-based financial education company iGrad have teamed up to offer the award-winning Enrich ™ Financial Wellness platform to more than 243,000 Ohio DC attendees.

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

Ohio DC goals with Enrich offering include enhanced financial literacy, improved financial well-being, and reduced financial stress.

“With Enrich, Ohio DC hopes to remove financial barriers that can stand in the way of attendees’ dreams by providing fun and easy-to-use tools to improve their personal financial skills,” said Christina Elliott. Executive Director of Ohio DC. “Enrich is widely recognized in the financial wellness industry and I encourage all of our attendees to access these free, robust financial wellness resources.”

Accessed by Ohio DC attendees at https://ohio457.enrich.org, the platform provides Your Money Personality ™ Financial Behavior Assessment, which analyzes each user’s financial “personality”. The interactive, mobile-friendly platform also offers:

– Financial education courses with personalized action plans on topics such as budgeting, mortgage, healthcare, college savings, student loan repayment, banking, credit, financial planning, and more
– An analyzer for asset allocation
– A student loan tracker
– Personal finance calculator and a real-time budget tool

Enrich is used by more than 20,000 employers and more than 300 financial institutions across the country, with artificial intelligence that appeals to each user with the most relevant content based on financial situation and stage of life.

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

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

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

According to a Capital One CreditWise 2021-2021 survey [2], 73 percent of Americans see finances as their number one source of stress.

To combat financial stress, Enrich users are encouraged to update their stress score roughly every four months to measure the correlation between improved financial wellbeing and stress levels. 2019 data shows that their stress levels decreased as Enrich participants improved their financial understanding.

Additional Enrich data found positive behavior changes as a result of program participation, including:

– 27 percent increase in the emergency savings fund to cover expenses for three to six months
– 28 percent more credit cards paid in full each month
– 32 percent increase in the number of employees meeting their financial goals

“Enrich can help people of all income levels and at all stages of life,” said Kris Alban, iGrad executive vice president. “Ohio DC is demonstrating the importance of financial wellbeing by offering Enrich public employees who are part of a group committed to behavioral finance education.”

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

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

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