Major Boost In Employee Saving/Investing Seen Under Workplace Investor Education Program Now Going National

8,500 Employees at Hundreds of Workplaces in Three States Already Have Benefitted From Program From Investor Protection Institute, State Securities Regulators, and National Credit Union Foundation.

WASHINGTON, May 9, 2012 /PRNewswire-USNewswire/ -- A new workplace investor education program already field tested on nearly 8,500 employees in hundreds of workplaces in Pennsylvania, North Carolina and Wisconsin appears to have found the answer to a problem that has long plagued employers and policy makers:  How do you encourage employees to participate more fully in workplace saving and investing programs?

The answer appears to be "Investor Education in Your Workplace®" (IEiYW), a project of the nonprofit Investor Protection Institute (IPI) with support provided through the Investor Protection Trust (IPT).  It is carried out jointly with state securities agencies and the National Credit Union Foundation (NCUF).  After its initial testing phase in three states, IEiYW is now expanding to the District of Columbia and seven additional states:  Alaska, Colorado, Iowa, Michigan, Oklahoma, Vermont, and Washington State.

For more information about the groundbreaking program, go to http://www.investoreducationinyourworkplace.org.

The 10-week online IEiYW training program has produced groundbreaking results that have been documented by field testing in Pennsylvania, North Carolina and Wisconsin:

• Up to 50 percent increases in short- and long-term saving and investing activities;
• Up to 40 percent improvement in investment knowledge measured through pre- and post-testing;
• Up to 50 percent improvement in participant attitudes and behaviors including increased financial well-being, setting investment goals, implementing a budget, and starting/increasing contributions to 401(k), IRA, or equivalent plans;
• Over 80 percent of participants complete the entire 10-week program; and
• 96 percent say they would like to participate in additional programs.

IPI President and CEO Don Blandin said: "The answer to the question of how to get more employees to participate in workplace saving and investing programs is much sought after in the world of investor education.  The good news here is that we now have a much better handle on what works.  The real plus of the 'Investor Education in Your Workplace' program is that it is a proven product with measured and fully quantified empirical data spanning thousands of employees in three states.  This is an excellent example of how state securities agencies are once again taking the lead in delivering important and effective investor education at the grassroots level in the U.S."

NCUF National Program Manager Lois Kitsch said: "Credit unions are the perfect crucible for testing what works when it comes to investor education designed to spur more saving and investing. That is why credit unions have taken a very active role in this effort by the Investor Protection Institute and state securities regulators to find a way get more people off the dime when it comes to planning for their financial futures.   The strong results we already have seen with this program make us very eager to be part of the new phase of the campaign in which it is going national."

Additional state securities agencies are being encouraged to participate in the Fall 2012 Investor Education in Your Workplace program. Informational webinars about the fall program, including detailed program results will take place in May. Webinar information is available at http://www.investoreducationinyourworkplace.org.  State decisions on participation should be made by June 15, 2012.

With financial support from the Investor Protection Trust in 2009, the University of Wisconsin, Madison (U of W Madison), and the Educated Investor® (EI) collaborated to develop a workplace-centered, online financial education program with the goal of providing employees with unbiased instruction in personal finance and investing fundamentals.  The first program was rolled out in Wisconsin in 2009-2010 and was titled the Real Pathways and Progress to Prosperity (RP3) program; the program is now part of the Investor Education in Your Workplace program.  The Educated Investor (published by Precision Information, LLC) provides the content, technology and program management for IEiYW.  

ABOUT THE GROUPS

The Investor Protection Institute is an independent nonprofit organization that advances investor protection by conducting and supporting unbiased research and groundbreaking education programs. IPI carries out its mission through investor education, protection and research programs delivered at both the national and grassroots level in collaboration with state securities regulators and other strategic partners. IPI is dedicated to providing innovative investor-protection programs that will make a meaningful difference in the financial lives of Americans in all walks of life and at all levels of sophistication about financial matters. For more information, go to http:/www.protectinvestors.org. 

The Investor Protection Trust is a nonprofit organization devoted to investor education. More than half of all Americans are now invested in the securities markets, making investor education and protection vitally important. Since 1993 the Investor Protection Trust has worked with the states and at the national level to provide the independent, objective investor education needed by all Americans to make informed investment decisions. The Investor Protection Trust strives to keep all Americans on the right money track. For more information, go to http://www.investorprotection.org.

The National Credit Union Foundation is an ongoing supporter of the IEiYW® program. The NCUF is the philanthropic and social responsibility leader of America's credit union movement; the NCUF raises funds, makes grants, manages programs and provides education that empowers consumers to achieve financial independence through credit unions. For more information, go to http://www.ncuf.coop.

Educated Investor is published by Precision Information, LLC, a leading provider of unbiased financial education materials providing technology, content and tools to hundreds of companies and millions of people.  

SOURCE Investor Protection Institute and Investor Protection Trust, Washington, D.C.