By Dean Carothers
Child Support Services, Monterey County
Once again as we head for another year’s end we experience the traditions of fall, leaves changing colors, school classes begin, open enrollment for healthcare and… one that you should pay attention to: National Save for Retirement Week (NS4RW).
This is the sixth year that NAGDCA (National Association of Governmental Defined Contribution Administrators) has had this passed through the lawmakers in Washington. The resolution passed by the Senate (S. Res. 266) designates the week of October 16th – 22nd as National Save for Retirement Week. The Resolution was introduced by Senator Kent Conrad (D-ND) and cosponsored by Senators Mike Enzi (R-WY) and Ben Cardin (D-MD).
The goals of NS4RW are:
– Make employees more aware of how critical it is to save now for their financial future
– Promote the benefits of starting to save for retirement today
– Encourage employees to take full advantage of their employer-sponsored plans by increasing their contributions.
This is the fourth year Monterey County is recognizing Save for Retirement Week and the third year SEIU 521 is acknowledging for their members the need to plan for retirement.
All SEIU members are encouraged to review or begin planning for their retirement now as putting it off for tomorrow may be too late. Retirement planning tools, tips and information may be found at www.nagdca.org
Dean Carothers also has another report about the higher risks women face in retirement than men. Read it here.