What, Already? …It’s National 401k Day!

It's usually celebrated the Friday after Labor Day

401k, saving, retirementThey've overindulged on enrollment, allocations and tax-deferred contributions.

Let’s hope everyone stays safe and saves responsibly for retirement.

Friday marks the annual celebration of National 401k Day, which ranks just behind Christmas and the Fourth of July in American popularity.

Promoted (although somewhat lacklustery this year) by the Plan Sponsor Council of America, the organization has been providing annual 401(k)/403(b) Day materials to its member companies for some time and “companies that have used the materials have experienced positive outcomes.”

“Promoting your plans with this free member benefit program helps break through the daily clutter and gets people to think about retirement in a different way,” it notes.

In the past, 401k Day was celebrated the Friday after Labor Day, to play off the concept that “you start the week with Labor Day and end the week with Retirement.”

However, as focuses have shifted to holistic financial wellness, and companies want the flexibility to focus on retirement plan education when it best fits into the corporate calendar, PSCA has now made the complete library of resources available to members to access at any time.

Financial Wellness Campaign

The campaign includes five complete modules that can be used in a weeklong financial wellness campaign, covering a new topic each day that will help participants get to a financially secure place in retirement.

Alternatively, users may choose to roll out the whole campaign on the one day they set aside to be a company’s 401k or 403(b) Day or spread the campaign throughout the year; whatever works best for them.

The campaign could also be done completely electronically and participants can learn at their own pace. The campaign provides e-mail banners and a link to a participant portal and employees can do all five steps, or just the ones most applicable to them.

The “5 Ways for a Secure Retirement” materials focus on Budgeting, Spending, Saving, Planning, and Sharing. Each topical area includes a variety of resources for participants.

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