Where did the year go?
National Retirement Security Week is once again here with a great message for employees and plan participants, “Challenge yourself to take at least one action during National Retirement Security Week to make sure you are on track for a secure retirement!”
401k advisors couldn’t agree more.
Celebrated from October 21 through October 27, NRSW is a national effort to raise public awareness about the importance of saving for retirement, which last year adopted a timely financial wellness theme to better address worker retirement saving.
Held every year during the third week of October, it provides an opportunity for employees to reflect on their personal retirement goals and determine if they are on target to reach those goals.
It also hypes the six steps critical to a secure retirement: 1. Enroll, 2. Contribute, 3. Prepare, 4. Learn, 5. Meet, and 6. Review.
National Retirement Security Week commenced in 2006, when Senators Gordon Smith, R-Ore. and Kent Conrad, D-North Dakota, introduced the first resolution establishing National Save for Retirement Week.
Their goals were to elevate public knowledge about retirement savings and to encourage employees to save and participate in their employer-sponsored retirement plans.
The Senate recently passed Resolution 575 continuing their support of National Retirement Security Week in 2016. A copy of the resolution can be read here at the NRSW Resolution.
Public sector retirement organization ICMA-RC as well as the National Association of Government Defined Contribution Administrators (NAGDCA) have taken an active role in educating employers and employees about the growing importance of saving for retirement.
“Today, plan sponsors and plan participants around the U.S. take part in this exciting week,” according to the organizations. “We invite you to participate and take advantage of the educational resources that we offer on our site to both plan sponsors and participants.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
