BALTIMORE, Feb. 24, 2016 /PRNewswire/ -- T. Rowe Price, an industry leader in retirement plan and investment services, today announced that Ramsey Solutions' SmartDollar, an online financial wellness solution, will be available to clients for integration into its Retire With Confidence® program. Upon plan sponsor election, participants will have access to SmartDollar's online tools and interactive lessons designed to help them pursue a better path to retirement readiness. T. Rowe Price will begin to offer SmartDollar to full-service recordkeeping clients in April 2016.
"We're committed to ensuring plan sponsors and their participants have access to the resources and innovative tools they need to help achieve their retirement goals. The SmartDollar program will be integrated into our services for increased participant engagement and support," said Diana Awed, head of Product and Marketing for T. Rowe Price Retirement Plan Services. "We believe our multi-channel approach to financial wellness will encourage employees to address their financial and budgeting needs, and ultimately help them build a stronger financial foundation."
"With so many Americans living paycheck to paycheck, it's no wonder that participants are not on track for retirement," said Brian Hamilton, vice president of Financial Wellness for Ramsey Solutions. "SmartDollar is designed to get to the root of the problem and helps employees have a step-by-step plan to get on a budget, build their emergency savings and get out of debt so they free up their largest wealth-building tool: their income."
T. Rowe Price's Retire With Confidence® program was introduced in 2012 as part of an already established solution to retirement preparedness, and includes an Online Learning Center, webinars, one-on-one consultations, and personalized check-ins. The program is designed to increase participant engagement and help them understand actions that can lead to more positive outcomes. With the integration of the SmartDollar program, participants will benefit from additional educational components with a highly engaging multimedia experience to help them manage their personal finances. Key features of the SmartDollar program for plan sponsors and their participants include:
- On-demand video lessons, educational materials and coaching
- Regular communication to encourage participants to take action
- Easy integration into T. Rowe Price's Retire With Confidence® participant experience
- Aggregate reporting, enabling plan sponsors to track progress
When offered in tandem with an employer-sponsored qualified retirement plan optimizing best practices in automated plan design, a financial wellness program, like SmartDollar, can help employees address emergency savings, debt elimination and budgeting and build a firmer, financial footing that could ultimately result in more successful retirement savers. SmartDollar is currently offered to more than 1 million eligible participants.
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $763.1 billion in assets under management as of December 31, 2015. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit troweprice.com, Twitter, YouTube, LinkedIn, or Facebook.
ABOUT RAMSEY SOLUTIONS
Ramsey Solutions empowers people from all walks of life to win at life and money by helping them regain control of their finances, build wealth, grow leadership skills and enhance their lives through personal development. The company offers messages of hope through a variety of mediums including live events, publishing, digital products and syndicated content. The company was started by CEO Dave Ramsey, America's trusted voice on money and business. Ramsey has authored five New York Times best-selling books, and is the host of the nationally-syndicated The Dave Ramsey Show, which is heard by more than 11 million listeners each week on more than 550 radio stations and digital outlets. Ramsey Solutions employs more than 500 team members and has been voted among Nashville's best places to work eight times. For more information on Dave Ramsey and Ramsey Solutions, go to daveramsey.com.
SOURCE T. Rowe Price