NATIONAL RETIREMENT SECURITY WEEK
National Retirement Security Week promotes the importance of saving for retirement. The national campaign takes place annually during the third full week in October.
Financial security comes from planning and saving. This week aims to educate employers and individuals about the options available for planning a secure retirement future. The week focuses on both employer-sponsored saving plans. Options include 401k and Individual Retirement Accounts (IRAs). Both types of programs allow tax-deferred contributions.
Another type of IRA is called a ROTH IRA. Through this type of savings plan, contributions are made after taxes have been collected. Other types of IRAs include SIMPLE, which consists of a matching option for employers and SEP IRA, which is for employers.
No matter your age, it’s important to start saving for retirement. Develop a plan and begin setting aside a specific amount of money each paycheck for your retirement. While you’re doing that, pay off debt so as you approach retirement age, your income goes toward living. Other important considerations are medical expenses.
HOW TO OBSERVE #RetirementSecurityWeek
Set up a retirement plan through work or with a financial advisor. Many financial institutions will be holding events. While considering your options, set some goals. Despite what many people think, it’s never too late to start. Make a list of goals. Take advantage of all your employer’s benefits, too. And don’t forget, use #RetirementSecurityWeek to share on social media.
NATIONAL RETIREMENT SECURITY WEEK HISTORY
In 2006, Congress established the first National Retirement Security Week to encourage Americans to plan for retirement. Senators Gordon Smith (R-OR0 and Kent Conrad (D-ND) introduced the first resolution establishing the bi-partisan effort.