NEFE Celebrates Financial Literacy Week at NYSE

Reps Applaud New Workplace Initiative

Date: April 13, 2011

Contact: Paul Golden 303-224-3514, [email protected]

NEW YORK—Representatives from the National Endowment for Financial Education (NEFE), the creators of the Workplace Financial Fitness Toolkit, and contributing experts gathered at the New York Stock Exchange (NYSE Euronext) Tuesday, April 12, to highlight the new Toolkit as part of its Financial Literacy Week with the ringing of The Opening BellSM.

Creators and experts contributing to the Workplace Financial Fitness Toolkit, ring The Opening BellSM at the NYSE April 12, 2011. (Photo courtesy NYSE Euronext)

Getting financial education into more workplaces benefits employers as well as employees," says Ted Beck, president and CEO of the Denver-based NEFE. "It can be very difficult for workers who are stressed about their personal finances to fully focus on the performance of their jobs. And new hires often have numerous decisions to make about company benefits that will impact their financial stability long into the future. It makes good business sense for companies to provide these tools to their employees."

The Web-based Workplace Financial Fitness Toolkit provides employers with practical, ready-to-use tools to build or improve their workplace financial fitness programs, including a wide range of tools to help educate, motivate and empower employees. The creation of the Toolkit, which was funded by the NYSE Euronext Foundation, was led by Annamaria Lusardi, Ph.D., director of the RAND Financial Literacy Center, with Punam Keller, Ph.D., professor at the Tuck School of Business at Dartmouth College, with input from NEFE and other financial education experts.

Lusardi and Keller’s research includes a strong focus on financial education opportunities in the workplace. Their recent study released in early 2010 and funded by NEFE investigated the beliefs and behaviors of people who do not engage in employer-sponsored savings programs. The researchers’ conclusions—formulated through surveys, focus groups, in-depth interviews and ethnographic studies of low-income, young, short-tenured and female employees—led to the development and testing of a successful, cost-effective program to increase retirement savings plan participation. The resulting guide for human resources managers will be available from NEFE and the Workplace Financial Fitness Toolkit.

Leadership joining Beck, Lusardi and Keller at the bell ringing ceremony were Michelle Greene, vice president of corporate responsibility at NYSE Euronext, and Patricia Seaman, senior director at NEFE, among others. To watch the NYSE Euronext Opening Bell ringing ceremony, click here.

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Contacts

  • Paul Golden

    Media Relations Director

    Direct: 303-224-3514
    Cell: 303-918-3620
    [email protected]

  • Patricia (Pat) Seaman

    Senior Director of Marketing and Communications

    Direct: 303-224-3538
    [email protected]