FOR IMMEDIATE RELEASE

National Retirement Security Month aims to increase awareness and educate Americans about the importance of adequately saving for retirement

Lexington, KY, July 15, 2024—In anticipation of National Retirement Security Month 2024 in October, NAGDCA shared steps to help plan sponsors get started with their National Retirement Security Month (NRSM) promotions. NAGDCA is the premier professional association for plan administrators and services providers of government-sponsored defined contribution retirement plans.

Originally conceived by NAGDCA as a week to encourage retirement saving among government workers, NAGDCA’s effort has grown into NRSM, a month-long concerted nationwide effort by employers and the retirement industry to inspire American employees to save adequately for a secure retirement that occurs each October. It has received bipartisan Senate resolution since its conception in 2006.

NAGDCA suggests plan sponsors use the months of July and August to develop a strategy and begin planning their NRSM initiatives. Specifically, NAGDCA encourages plan sponsors to:

  • Contact their retirement plan services provider(s) to determine what materials, support, and resources they can provide to help support your NRSM promotion.
  • Consider holding a kick-off meeting with staff to begin planning for NRSM activities.
  • Identify events their plan will host during NRSM.
  • Review NAGDCA’s Leadership Award winners in the NRSM category for ideas and inspiration.

Additional guidance and resources may be accessed here.

Ongoing legislative and industry efforts aimed at making it easier for Americans to save more effectively for retirement attest both to growing concern about the insufficiency of Americans’ retirement savings and the value of NAGDCA’s vision.

“We’re thrilled by the continued participation NRSM receives from plan sponsors and their services providers, and appreciate the ongoing efforts of the many lawmakers who have championed and continue to advocate for legislation aimed at strengthening Americans’ ability to save adequately for retirement,” said NAGDCA Executive Director Matt Petersen. “The continued participation in NRSM by employers and the retirement industry powerfully validates NAGDCA’s original intention in creating National Retirement Security Month, which was—and remains—to raise awareness of the importance of saving adequately for retirement.”

“It’s essential that plan sponsors, and their services providers, recognize that they remain key to enabling American employees to access the benefits of lawmakers’ efforts aimed at helping them achieve financial security in retirement,” Matt concluded.

ABOUT NAGDCA
NAGDCA provides education, information, and training in all aspects of public plan administration to support members in creating plans that enable secure retirement outcomes for their participants. Additionally, NAGDCA is a co-founder with the Employee Benefit Research Institute of the Public Retirement Research Lab, a retirement industry-sponsored collaborative effort. The PRRL mines data from the PRRL Database, the first-ever database specific to public sector plan- and participant-level defined contribution data, to produce research aimed at enhancing understanding of the design and utilization of public sector defined contribution retirement plans. NAGDCA also conceived National Retirement Security Week to encourage retirement saving among government workers. Through its efforts, National Retirement Security Week evolved into National Retirement Security Month, a national effort to inspire American employees to save adequately for a secure retirement that is observed throughout the retirement industry during the month of October. It has received bipartisan Senate resolution since its conception in 2006. To learn more about NAGDCA, visit https://www.nagdca.org/.

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