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EBSA News Release: [06/30/2004] Contact Name: Gloria
Della Phone Number: (202) 693-8666
U. S. Labor Department Continues National Education
Campaign to Build Wealth at Work
Workers Should Commit to Financial Independence
for Secure Retirement
WASHINGTONU.S. Secretary of Labor Elaine L. Chao today
unveiled a series of print public service announcements that encourage workers
young and old to make a commitment to save more by participating in retirement
plans at work. As part of its Retirement Savings Education Campaign, the Labor
Department partnered with the Consumer Federation of America to develop the
advertisements.
Retirement security can be a part of every persons
future, Secretary Chao said. This Independence Day, the Labor
Department wants to remind you that July 4 is also a time to do a check up on
your financial independence for retirement.
Build Wealth at Work is a national campaign designed to
remind workers that Independence Day also symbolizes financial independence for
retirement. The print announcements are an outgrowth of the 2002 National
Summit on Retirement Savings targeting retirement-saving messages for four
distinct generations: the Millennial Generation, Generation X, Baby Boom
Generation, and the Silent Generation.
The messages are tailored to each generation and convey the importance
of saving through workplace retirement plans for a lifetime of prosperity and
security. The advertisements encourage workers age 50 and older to save more as
retirement nears. Other ads highlight ways young workers can achieve secure
retirements by saving over their working life and participating in plans that
offer matching employer contributions.
In addition to the print announcements, the department will release a
series of radio actualities featuring Secretary Chao that promote retirement
savings. The radio actualities are available at
http://www.dol.gov/opa/media/audio/.
Copies of the print ads are available in English and Spanish on the
department's Web site at www.dol.gov/ebsa.
Consumers are encouraged to take action, including contacting the
department for educational material such as Savings Fitness: A Guide Your
Money and Your Financial Future, which was developed in cooperation with
the Certified Financial Planner Board of Standards. In addition, consumers can
sign up to become an American Saver under the Federation's America Saves at
Work program at www.americasaves.org.
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