PSCA OFFERS COMPLIMENTARY RETIREMENT READINESS PROGRAM FOR 401(k) DAY

CHICAGO (August 11, 2004) - The Profit Sharing/401(k) Council of America (PSCA) invites all plan sponsors to celebrate National 401(k) Day by taking advantage of PSCA’s "Retirement Ready" program, a comprehensive communications campaign to help companies promote saving for retirement in the workplace.  This year, National 401(k) Day will be celebrated on Tuesday, September 7^th.  As retirement follows work, 401(k) Day officially falls on the day after Labor Day. 

"Our 401(k) Day gift this year to all plan sponsors is PSCA’s new website www.401kday.org that provides everything you will need to make celebrating 401(k) Day fun and easy," says Connie Mullis, Vice President of Marketing and Communications, PSCA.  "This is a great opportunity for plan sponsors to create awareness and appreciation of the plan at their company and stress the importance of saving for retirement.  We made it easy too.  We offer sponsors a complete action plan that includes a planning timeline, tips and the resources to support the plan," Mullis continues.

The Retirement Ready program, available online at 401kday.org, is offered free of charge and features interactive and print educational materials, such as posters, payroll stuffers, employee announcements and interactive games.  A step-by-step guide or action plan that walks sponsors through the options they have in celebrating the event is also available on the site as are retirement planning tools for participants, such as an annual retirement checkup and retirement calculator.  In addition, communication materials in Spanish are available to PSCA member companies.

Retirement Readiness
"Many people are asking, ‘What is retirement readiness?’" states PSCA President David Wray.  "Discussions regarding retirement readiness are more and more interesting as change and uncertainty from increasing longevity, Social Security viability and healthcare become integral parts of the planning equation.  The best way to allay concerns about these uncertainties is for people to develop and implement personal financial plans not just to reach retirement income goals, but to manage their income as they leave the workforce.  Retirement readiness is a process, not a number," Wray concludes.  "Our 401(k) Day theme this year sets the stage for employers to bring retirement readiness to the forefront and help employees gain confidence in their ability to prepare and plan for the future," says Wray.

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.