At a Glance | April 14, 2022 Employee Contributions Increased Following Webinar Attendance The likelihood of attending a financial wellbeing webinar varies significantly by participant characteristics across age and 401(k) contribution levels. 1 WHO ATTENDED WEBINARS? Likelihood of Participants Attending Financial Wellbeing Webinar (T-Value) Older/higher-contributing $ = Lower 401(k) Contribution participants were more likely $$$ = Higher 401(k) Contribution to attend webinars regardless Younger Participants ( 45?yrs) Older Participants (=? 45?yrs) of age, 401(k) account Participant Variable $ $$$ $ $$$ balance, or contribution level, as Age 1.8 2.5 3.0 9.1 indicated by the green circles. Positive t-values are green; Account Balance 2.2 5.4 negative values are red. Employee Contrib. 5.0 1 INCREASE FOLLOWING WEBINARS Estimated Increase in Employee Contributions After Attending Webinars The estimated increase in Younger Participants ( 45?yrs) Older Participants (=? 45?yrs) 401(k) contribution levels after attending any financial $ $$$ $ $$$ wellbeing webinar was Any Webinar $0.6k $0.7k $1.0k $0.9k between $649 and $988, depending on age and initial contribution level. Those who Webinar Topic attended budgeting webinars Budgeting $3.3k $1.2k $3.6k $2.8k had higher estimated contribution increases vs. those Student $1.2k attending any other webinar, as Loans shown by the size of the circles. Investing $1.9k $2.9k Tax Changes $1.3k $1.0k $1.4k Health Care $2.8k $2.1k Choices Health Savings $2.7k $1.5k Account Retiree Health $1.1k Costs Social $1.1k $0.8k Security Estate $1.3k $1.0k Planning 1 Chart omits values not statistically significant at the 10 percent level. SOURCE: “Field of Dreams? Measuring the Impact of Financial Wellbeing Initiatives on 401(k) Plan Utilization,” EBRI Issue Brief, no. 554 (March 10, 2022). © 2022 EBRI This report is copyrighted by the Employee Benefit Research Institute (EBRI). You may copy, print, or download this report solely for personal and noncommercial use, provided that all hard copies retain any and all copyright and other applicable notices contained therein, and you may cite or quote small portions of the report provided that you do so verbatim and with proper citation. Any use beyond the scope of the foregoing requires EBRI’s prior express permission. For permissions, please contact EBRI at permissions@ebri.org.

