A little more than eight years ago, the U.S. Senate, by unanimous consent, agreed to a simple resolution designation making the third week in October National Save for Retirement Week.
The resolution called on government at all levels, the private sector and the nonprofit sector to observe the week "with appropriate programs and activities with the goal of increasing the retirement savings of all the people in the United States."
The National Association of Government Defined Contribution Administrators, a consortium of public and private plan administrators, acts as sponsor of the week.
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It has been asking plan sponsors to do their part by using the week to tell their employees how it vital it is that they fully utilize their workplace plans.
Sponsors have had access to stock communications tools, banner ads and email campaigns provided by the NAGDCA to make help make the week, which falls during benefits enrollment season, more useful.
Lincoln Financial Group is using the week to highlight various steps in a saver's career and what can be done to enhance retirement preparedness at each stage.
It also has made an education and communication program available for plan sponsors to use with their participants.
Lincoln has also launched worthsavingfor.com, where sponsors can direct employees to worksheets on savings and contributions rates.
"We are grateful to have the opportunity to use this national event to help motivate savers in a positive way," said Chuck Cornelio, president of retirement plan services at Lincoln Financial.
"Whether savers are just starting out in their career, changing jobs or approaching retirement, there are actions that can help boost their retirement readiness," he said.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
