Did you know?

About National Retirement Security Week

National Retirement Security Week is a national effort to raise public awareness about the importance of saving for retirement. National Retirement Security Week is held every year during the third week of October (it is October 21-27 this year). The week provides an opportunity for employees to reflect on their personal retirement goals and determine if they are on target to reach those goals.

National Retirement Security Week commenced in 2006, when Senators Gordon Smith (R-OR) and Kent Conrad (D-ND) introduced the first resolution establishing National Save for Retirement Week. Their goals were to elevate public knowledge about retirement savings and to encourage employees to save and participate in their employer-sponsored retirement plans.

The Senate recently passed Resolution 575 continuing their support of National Retirement Security Week in 2016.  A copy of the resolution can be read here — NRSW Resolution.

Over the years, ICMA-RC has partnered with the National Association of Government Defined Contribution Administrators (NAGDCA) to ensure that the week is a great success. ICMA-RC and NAGDCA remain committed to educating employers and employees about the growing importance of saving for retirement.

Today, plan sponsors and plan participants around the U.S. take part in this exciting week. We invite you to participate and take advantage of the educational resources that we offer on our site to both plan sponsors and participants.

Shame on me for not knowing that there was such a thing as the National Retirement Security Week. We, at KCS, treat every week the same. It is terrific that such a week exists, but how is this information getting into the hands of sponsors and participants? What is being presented that isn’t the same old, same old? What efforts are being put forth to try to preserve and protect defined benefit plans from being terminated and the participants shifted into defined contribution offerings without the skills to fund, manage, and disburse this critical benefit?

Having recently spoken at both the FPPTA and IFEBP, I can assure you that most of the presenters addressing pension plan strategies were once again discussing traditional asset allocation approaches that amount to nothing more than shifting deck chairs on the Titanic. Placing a little more in this asset class versus that one or adding a new asset class with the “promise” of a greater return is not the answer. We need real change in our approach before all of these pension systems no longer exist.

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