Financial Wellness:
Our Approach
Clarity and Purpose
We know that participants have many financial priorities. And those priorities may shift and change over time. Our goal is to help your participants improve their retirement outcomes by making it easier to manage short-term financial demands that could disrupt their long-term retirement goals.
Informed by Data
prioritize savings goals or other debt reduction over retirement savings1
say that financial or money matters/challenges cause the most stress2
of stressed employees say finances have been a distraction at work2
Integrated Experience
We pair our proprietary solutions with well-established benefit providers to create an integrated financial wellness and retirement experience, bringing greater meaning to the participant’s holistic financial picture.
Our Solution
Our Approach
We address evolving participant needs by creating meaningful solutions in five primary financial categories.
- Emergency Savings
- Health Care
- Investment Advice and Guidance
- Debt Management
- Retirement Planning
T. Rowe Price | Standard Offer
Our standard offer delivers a comprehensive set of resources and tools as part of the participant experience.
Education, Retirement Income Planner, SmartVideo, Confidence Check-ins, Digital Calculators
- Financial Assessments
- Account Aggregation
- Budgeting
- Cash Flow Analysis
- Non-Retirement Goals
- Asset Allocation Guidance
Premium Solutions
Our flexible framework offers additional premium solutions that are integrated throughout the participant experience.
See What Sets Our Offer Apart
Waysaver™: a smarter emergency savings offer
Our emergency savings program helps employees reduce the impact of one of the most common obstacles to retirement saving: emergency expenses.
Available to both active participants and eligible nonparticipants, this out-of-plan solution makes saving automatic, so employees can have access to cash when they need it—without derailing their long-term financial freedom.
A comprehensive solution for student debt management
Tools and resources include free educational and planning resources integrated within the participant website, and optional services such as SoFi's Student Loan Debt Navigator, 529 Savings Tool, and financial counseling. SoFi services are available through a separate contract with SoFi for a fee.
Explore more of what's available to help employees take action and get help with their student loan debt challenges.
Create Financial Wellness With SmartDollar®
SmartDollar can help employees take control of their paycheck, destroy debt, save for emergencies, and invest for the future. An employees’ greatest wealth-building asset is their paycheck and SmartDollar can show them how to keep more of it. Users will have access to engaging content, tools and financial coaching that aims to create lasting behavior change. As a result, employees may be able to take advantage of their retirement, Health Savings Account (HSA) and other company benefits.
Consumer-Directed Health Care Solution
Our relationship with Optum Financial, a leading expert in consumer-directed health care solutions, provides an opportunity to improve overall financial wellness for participants.
Consumer-directed accounts, like Optum Financial's flagship HSAs, give participants in high-deductible health plans more flexibility over their health care finances, offering significant tax advantages and a choice of account investments.
Contact your T. Rowe Price representative to find out how we can take your plan to the next level.
1T. Rowe Price Retirement Savings and Spending Study, 2020
2PwC, Employee Financial Wellness Survey, 2020
Morningstar® Retirement ManagerSM is offered by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., and is intended for citizens or legal residents of the United States or its territories. Investment advice generated by Morningstar Retirement Manager is based on information provided and limited to the investment options available in the defined contribution plan. ©2023 Morningstar Investment Management LLC. All Rights Reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. Morningstar Investment Management is not affiliated with T. Rowe Price or Envestnet I Yodlee. There can be no assurance that any financial strategy will be successful. Morningstar Investment Management does not guarantee that the results of their advice, recommendations or objectives of a strategy will be achieved. Asset allocation is a method used to help manage risk; it does not ensure a profit or protect against a loss.
©2023 Edelman Financial Engines, LLC. Financial Engines® and Edelman Financial Engines® are registered trademarks of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Results are not guaranteed. See EdelmanFinancialEngines.com/patent-information for patent information. The investment advice provided is formulated and provided solely by Financial Engines Advisors L.L.C. (Financial Engines), a registered investment advisor. Financial Engines provides this investment advice, and neither T. Rowe Price Retirement Plan Services, Inc. (T. Rowe Price), nor any of its affiliates, including its affiliates who are registered investment advisors, supervises or takes responsibility for monitoring. Financial Engines is not affiliated with, nor is it an employee or agent of, T. Rowe Price.
SmartDollar, SoFi, Optum, and Health Equity are not affiliated with T. Rowe Price or its affiliates.
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