CAPTAIN 401(k) TO RESCUE RETIREMENTS IN DISTRESS

PSCA Launches New Materials to Create a Super Retirement on National 401(k) Day

CHICAGO (August 4, 2005) - With personal savings rates at or near 0 percent, achieving a financially secure retirement may seem like a job for a super hero. Just in the nick of time, the Profit Sharing Council of America (PSCA) is introducing Captain 401(k) to empower savers across the nation to create their own Super Retirement; the theme of this year’s national 401(k) Day celebration in September. To broaden the reach of the special retirement savings celebration, PSCA is providing plan sponsors super-speedy access to 401(k) day materials.

“Our message this 401(k) Day is that it doesn’t take a superhuman effort to rescue our financial futures,” said David Wray, PSCA president. “American workers can take control of their long-term financial well-being through employer-sponsored plans and increasingly employers are empowering them with do-it-for-me, auto savings tools. As recent PSCA surveys show, auto enrollment and investment advice are growing in popularity. 401(k) Day gives employers an opportunity to draw attention to the benefits of participating in worksite retirement plans and hopefully spark employees into increasing their savings.” PSCA is using a theme based on the recent popularity of superheroes to capture employees’ interest in 401(k) Day, Wray said. The national celebration was established to educate employees about the importance of participating in their 401(k) plans and of long-term savings for retirement. 

Free Materials
PSCA provides materials at no charge to employers who want to host the celebration at their worksite. The materials include free interactive and print 401(k) participant education tools, such as posters, payroll stuffers, crossword and word-find puzzles, and a matching game that educates employees about 401(k) terms and investing. Sample program content and planning tools for customizing 401(k) Day programs to individual companies are also available. Companies can also access a participant Web cast, “401(k): A Plan That Pays,” which offers insight on the benefits of joining a 401(k) plan. The Web cast also includes information on the importance of saving early, how easy it is to join a 401(k) plan, and much more. In addition, communication materials in Spanish are available for PSCA member companies. 

Employers can learn more about 401(k) Day on PSCA’s special 401(k) Day Web site, www.401kday.org. “While we’ve earmarked September 6 as a national day of celebration, it’s never too late to celebrate employer-sponsored retirement plans,” Wray said. “We encourage plan sponsors to pick a date that works best for their organization.”

National 401(k) Day is supported by the nation’s leading retirement plan providers and is sponsored in part by: ADP Retirement Services, AMVESCAP Retirement Services, Charles Schwab Corporate Services, Fidelity Investments, John Hancock Financial Services, MFS Retirement Plan Services, Principal Financial Group, T. Rowe Price, and Kavya Web Designs.

The Profit Sharing/401(k) Council of America (PSCA), a national non-profit association of 1,200 companies and their 6 million employees, advocates increased retirement security through profit sharing, 401(k) and related defined contribution programs to federal policymakers and makes practical assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication available to its members. PSCA, established in 1947, is based on the principle that “defined contribution partnership in the workplace fits today’s reality.” PSCA's services are tailored to meet the needs of both large and small companies with members ranging in size from Fortune 100 firms to small, entrepreneurial businesses.