National Save for Retirement Week (NS4RW) will be held October 20-26, 2013. NS4RW was first introduced by NAGDCA in 2006, and was developed to raise awareness about the importance of saving for retirement and to create a culture that promotes and values saving in the workplace and the community. It was the first congressionally endorsed, national event formally calling on employers to promote the benefits of saving for retirement, and encourage their employees to take full advantage of employer-sponsored plans.
Now more than ever employees need to be aware of how critical it is to save for their financial future, and employers need to help promote the benefits of getting started today to save for retirement.
The following NAGDCA members won a 2013 Leadership Award for National Save for Retirement Week for having an entire campaign or specific strategy that effectively raised the awareness of NS4RW and drove measurable activities and results as well as generated local or national media coverage in 2012.
- State of New Jersey – To underscore the critical importance of saving for a financially secure future, the New Jersey State Employees Deferred Compensation Plan had an informational campaign that included posters, postcards, brochures to non-participants, emails with links to individual accounts and plan features, a powerful online retirement planning calculator, and “tear and mail” coupons to make enrolling or increasing saving rates quick and simple.
- Metropolitan Transportation Authority, NY – To help employees focus on retirement readiness issues, the Metropolitan Transportation Authority reached nearly 500 employees through two dozen group meetings. In addition to the group meetings, 27 site visits by Retirement Counselors over two weeks resulted in nearly 350 individual consultations to promote retirement readiness. These meetings resulted in 200 new enrollments to the plan and 80 plan participants increasing their contribution.
- Oakland County, MI – Oakland County prepared a Cyber Scavenger Hunt to promote awareness of retirement plans and benefits and engage employees who were unaware of their retirement needs, in addition to holding retirement presentations and open houses to assist individual employees with their retirement questions.
- Metropolitan Water Reclamation District of Chicago, IL – To boost employees' awareness of how important it is to plan for their financial future, MWRD developed a range of educational materials to inform and engage eligible employees and existing participants, and held a series of financial-planning and retirement-readiness seminars.
- City and County of Honolulu, HI – The City and County of Honolulu used the message “Get in the Game” to remind employees to be engaged in the decision making process along the road to retirement. The county held two educational sessions each day of National Save for Retirement Week for plan participants and eligible employees, as well as two sessions targeted exclusively to retirees, to deliver this message.
- University of North Carolina – To debunk retirement myths and demystify saving for retirement, the University of North Carolina used email and a humorous promotional video to raise awareness about savings vehicles available to them and present information about the university's retirement plans.
For more information about NS4RW visit www.nagdca.org. The site contains a communication timeline and sample materials that can be customized.
Neither NAGDCA, nor its employees or agents, nor members of its Executive Board, provide tax, financial, accounting or legal advice. This memorandum should not be construed as tax, financial, accounting or legal advice; it is provided solely for informational purposes. NAGDCA members, both government and industry, are urged to consult with their own attorneys and/or tax advisors about the issues addressed herein.