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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8211
President Clinton and Secretary of Labor Alexis M. Herman, along with
the congressional leadership will join delegates to the first National Summit
on Retirement Savings Education on June 4 and 5, 1998 in Washington, D.C. to
focus the nation's attention on the need to build retirement security.
The Summit, the first of its kind to gather leaders from around the
country, was established by the Savings Are Vital to Everyone Retirement Act of
1997 or "SAVER Act," which promotes awareness of the importance of retirement
savings.
"The Retirement Savings Education Summit is an important bi-partisan
effort to increase awareness of the need for pension and individual savings,"
Herman said. "American workers have earned the right to a secure and
comfortable retirement. But too many employees, particularly women and
minorities, are unaware of the need to start saving early in their careers. We
want to make sure all of America's workers have the knowledge and resources
they need to take advantage of the benefits offered by our retirement savings
system."
This is the first of three Summits planned for 1998, 2001 and 2005,
that will examine the current state of retirement savings and education. It
will focus on problems that keep workers from setting aside money for
retirement, and will address the hurdles faced by employers interested in
helping workers to save.
The delegates will explore the barriers associated with saving and
discuss recommendations to help the private and public-sector overcome them.
Particular attention will be given to the unique challenges facing small
business owners, women, minorities and low to moderate income workers.
The Labor Department has created a series of television and radio
announcements entitled, "Are You Saving For Retirement?" that explain why
people put off saving and encourage Americans to save for retirement. Copies of
the tapes are available by contacting Linda Jackson King at 202-219-8921.
"The Labor Department has been working hard to educate the American
public about retirement savings," said Herman. "From the girl scouts to small
business owners and employees we have been making sure workers and employers
know about their retirement needs and options. But our goal is to do more than
provide information, we work to boost people's inclination to save for
retirement."
In 1995, the department launched its Retirement Savings Education
Campaign in conjunction with the Department of Treasury and several
public-private partners. As a result of this partnership, the American Savings
Education Council was formed and now has more than 250 members committed to
helping Americans plan and save for a secure retirement. In line with the SAVER
Act, the Labor Department will maintain and expand its education initiative to
promote retirement security for American workers. The SAVER Act directs the
Department of Labor to maintain an ongoing program of public information and
outreach through:
- public service announcements
- public meetings
- creation of educational materials
- establishment of a site on the Internet
The National Summit On Retirement Savings Education will be held at the
Capitol Hill Hyatt Hotel, 400 New Jersey Ave., N.W., Washington, D.C. and will
begin at 8:00 a.m. on Thursday, June 4.
Archived News Release--Caution:
information may be out of date.
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