COMPANIES ACROSS AMERICA CELEBRATED 401(k) DAY ON SEPTEMBER 2

Free 401(k) Day tools continue to be available year-round at psca.org

CHICAGO (September 5, 2003) - September 2 was National 401(k) Day, and companies nationwide recognized the day by sponsoring events, celebrations, and educational programs highlighting the importance of 401(k) plans for their employees.

Companies marked the day in a variety of ways. Lincoln, Nebraska based Isco, Inc. celebrated the entire week as "Retirement Realities Week," incorporating games and educational materials downloaded from PSCA’s website. They paired morning coffee and pasty breaks with the message to employees to "Wake Up and Smell the Coffee on 401(k) Day." "We are really excited about our 401(k) Day activities this year," says Sheryl Wright, Isco’s director of human resources. "The educational games and prizes are a great way for educating participants in the wise use of their 401(k) plan."

This year, the Employee Benefit Research Institute (EBRI) scheduled its televised "Choose to Save" phone bank on 401(k) Day. Ed Ferrigno, PSCA’s vice president of Washington affairs, helped staff the phone bank. "The volume and content of the calls reinforced the popularity of 401(k) plans and the desire of participants for information to help them manage their retirement security," says Ferrigno.

401(k) Day, which falls annually on the day after Labor Day, is an opportunity for both festivity and education. To help make 401(k) education engaging, PSCA provides interactive learning tools, such as crossword puzzles and wordfinds, on its website. In addition, several of the tools have been translated into Spanish for use by PSCA member companies.

While 401(k) Day officially falls on the day after Labor Day, some companies choose to host their events on an alternate day. For this reason, PSCA makes its 401(k) Day tools available throughout the year.

Approximately 62 million individuals now save through 401(k) and related plans, up from 55 million people five years ago. According to PSCA’s 46^th Annual Survey of Profit Sharing and 401(k) Plans, 80% of individuals who are eligible to participate in 401(k) plans do so. On 401(k) Day, companies provide programs to help these participants better understand their plans, and also to reach the other 20% that are not yet participating. "We need to work continually to bring the benefits of 401(k) to all working Americans, and 401(k) Day is the perfect opportunity to do this," says PSCA president David L. Wray.

PSCA’s 401(k) Day tools, which include both print and interactive online materials, can be downloaded year-round from PSCA's website. These educational materials are available for free to all plan sponsors. Spanish versions of some of the tools are also available online for PSCA member companies.

PSCA thanks our 2003 401(k) Day sponsors: Fidelity Investments, Hewitt Associates, Manulife Financial, Merrill Lynch, MFS Retirement Services, Putnam Investments, T. Rowe Price, The Principal Financial Group.

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.