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Release Date: February 15, 2006
Release Number: 06-274-NAT
Contact Name: Peter Hong/Gloria Della
Phone Number: 202.693.4676/202.693.8664
Washington, DC - The U.S. Department of Labor’s
Employee Benefits Security Administration (EBSA) today released a new
resource to help Americans calculate the financial resources they will
need to ensure a secure retirement.
The publication, “Taking
the Mystery Out of Retirement Planning,” is designed to assist
individuals who are within 10 years of retirement calculate their
income, savings and likely expenses in retirement. Using these figures,
Americans will have a better idea of how much they need to save to
ensure they do not outspend their retirement assets.
“Americans are living longer, healthier lives and
will need more income to see them through their retirement. Making the
right choices is critical to living a lifestyle of financial
independence, and this booklet will help individuals realistically plan
for their financial future,” said Ann L. Combs, assistant secretary
for employee benefits security.
Although targeted to individuals approaching
retirement, the booklet is also useful for recent retirees. The
publication includes worksheets that allow the user to evaluate current
assets and expenses; project future assets and expenses, and determine
what additional resources are needed to meet their retirement lifestyle.
There also are discussions on methods of saving, investment options,
expense considerations and how to make your assets last throughout
retirement. An extensive resource section provides other sources of
information on retirement, savings and investment issues.
The primary focus of the booklet, preparing
financially for retirement, will be a key topic at the March 1-2, 2006
National Summit on Retirement Savings in Washington, D.C. The summit
agenda will include discussions of strategies workers can use to ensure
they have sufficient assets to cover the years spent in retirement.
Free copies of the booklet are available by calling
EBSA’s toll-free number at 1.866.444.EBSA (3272) and visiting the
agency’s Web site at www.dol.gov/ebsa (under publications). The public
can also get the booklet from the Federal Citizens Information Center at
1.888.878.3256.
Media who plan to attend the Summit should complete
the online registration form at www.saversummit.dol.gov, or fax the form
to the department by February 23, 2006. Username: Media; Password:
Summit.
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7765 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
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