Planning for financial security. (includes related articles on asset allocation model for financial planning, group legal plans) (Benefits Outlook)

Planning for Financial Security

Many employers are expanding their benefits package to include service perks designed to meet the lifestyle needs of their employees. One such perk, financial planning services, can be particularly valuable to the busy executive or professional who must juggle the demands of career and family life. Too often, these employees find themselves saving and investing on what amounts to an ad hoc basis.

Moreover, the Tax Reform Act of 1986 and recent changes in qualified pension and savings plans have altered the financial planning orientation of many employees. Because of lower tax rates and restrictions on the amount of money that can be protected in personal pension and savings plans, greater emphasis is being placed on investing and less emphasis is being placed on minimizing tax exposure.

These factors--along with the realization by employers that employees' nagging financial concerns can hinder job performance--have helped create a boom in financial planning services. According to the International Association for …