Treasury's RetirePA initiative starts dialogue on difficult but critical issue of retirement saving

HARRISBURG, Pa., Sept. 9 /PRNewswire-USNewswire/ -- Treasurer Rob McCord today unveiled a new resource aimed at improving the economic security of Pennsylvanians – RetirePA, Treasury's Retirement Security Initiative.

"RetirePA is my effort to start an important, ongoing process.  People need to learn about the long-term challenges they face – and the acute need to save for retirement," Treasurer McCord said. 

Treasurer McCord designed this communications and education strategy to help Pennsylvanians work on a difficult but critical issue – how to plan and save for retirement.  The centerpiece of this Retirement Security Initiative is www.RetirePA.com, an online tool to help all Pennsylvanians plan, save and retire with full financial comfort.

"I am sounding the alarm about retirement saving and the need to save NOW, even in these challenging times.  The RetirePA site also offers tools that can help people plan,  save, and – ultimately – retire with full financial security," McCord said.

"The Employee Benefit Research Institute reports that 43% of Americans have less than $10,000 in retirement savings," Treasurer McCord said.  "I want to help Pennsylvanians make saving for retirement a financial priority – before it's too late."

During the recession, Americans' retirement plans lost $2 trillion in value.  A study conducted last year by the AARP found that because of the economic downturn, one in five workers 45 and older stopped putting money into a 401(k), IRA or other retirement savings account.

Visit www.RetirePA.com to plan, save and retire.   

Pennsylvania Treasurer Rob McCord is committed to increasing the economic security and prosperity of all Pennsylvanians.  Before winning the statewide-elected job of State Treasurer, McCord was a successful business leader.  He is now focused on strengthening the state's economy, managing investments to get strong returns for taxpayers, and helping to create good jobs and retirement security for Pennsylvanians.  To learn more about Treasurer McCord's initiatives, please visit the Pennsylvania Treasury Department at www.patreasury.org.

SOURCE Pennsylvania Treasury Department

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RELATED LINKS
http://www.patreasury.org
http://www.retirepa.com/