America's Retirement Savings Crisis: What Employers Can Do
EANJ's 99th Annual Membership Meeting
10,000 Americans will turn 65 years of age each day for the next 14 years
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America faces a retirement savings crisis. Employers are part of the solution.
While defined contribution plans are the primary way private-sector employees save for retirement, the average working household has virtually no retirement savings. Thirty-eight million working-age households (45%) have no private retirement accounts. The medium retirement account balance is $3,000 for all working households and $12,000 for near retirement households.
Further, 47 million Americans currently receive social security benefits as their primary old-age pension. By 2030, beneficiaries will increase to 70 million.
As retirement income is based on earnings and savings, working women are less likely to have a private retirement account and receive disproportionately less social security benefits.
Employers play a vital role in helping employees save and plan for retirement.
Join EANJ and experts from the USDOL Women's Bureau, Employee Benefits Security Administration, the Bureau of Labor Statistics, Social Security Administration and private sector retirement savings experts.
EANJ unveils a groundbreaking Retirement Savings program for members
Also learn about EANJ's solution: EANJ's 401(K) Advantage - which will allow EANJ members exclusive, cost-saving access to the same retirement savings plans enjoyed by big corporations, customized plan designs, record keeping and administrative compliance, investment selections, fiduciary services, plan management and employee education. EANJ's 401(K) Advantage is a unique EANJ special platform which delivers superior products and economies of scale to EANJ members.
Joseph V. Calvanelli
President, OpinionAmerica Group
OpinionAmerica Group, LLC is marketing research and polling firm providing high quality opinion & survey interviewing, related support services. Mr. Calvanelli was among the co-founders of Fairleigh Dickinson University's PublicMind - an opinion research center which conducts polling and survey research on politics, society, popular culture, consumer and economic trends.
Dr. Teresa Ghilarducci
Professor Ghilarducci, who teaches at the New School for Social Research, was appointed in 2014 as a Commissioner for the Bipartisan Policy Center's Personal Savings Initiative. Additionally, Dr. Ghilarducci serves as a trustee for two retiree health care trusts: one for the United Auto Worker (UAW) retirees at GM, Ford, and Chrysler, and the other for Steelworker retirees at Goodyear. She was twice appointed by President Clinton to serve on the Pension Benefit Guaranty Corporation advisory board, serving from 1995-2002. She has been a member of the General Accounting Office Retirement Policy Advisory Panel since 2002. From 2007 to 2009, she was the Wurf Fellow at the Labor and WorkLife Program at Harvard Law School and currently serves as a member of the Board of Directors of the Economic Policy Institute, Washington D.C.
Women's Bureau, US Dept of Labor
U.S. Bureau of Labor Statistics
Everet M. Lo
Social Security Administration
Employee Benefits Security Administration
Assemblyman Joseph A. Lagana (38th District)
Moderator: John J. Sarno, President Employers Association
Special lunch Keynote Speakers
Honorable Vincent Prieto, Speaker of the New Jersey Assembly
Speaker Prieto represents Legislative District 32 (Hudson and Bergen Counties). He was elected Assembly Speaker on January 14, 2014, becoming the second Cuban-American in state history to lead a legislative house. Among the Speaker's many legislative accomplishments, is sponsorship of the NJ Secure Choice Savings Program, which requires employers with at least 25 workers to establish a retirement account for each worker. In sponsoring the bill, he and co-sponsors, note that a recent Federal Reserve Report indicates that 31 percent of Americans have no money saved for retirement and have no pension, including 19 percent of people between the ages of 55 and 64.
Beau Adams, Partner, Benefit Consultants Group
Mr. Adams is a Partner with Benefit Consultants Group (BCG) responsible for building and managing nationwide retirement plan consulting programs. He will be discussing EANJ's Employer Retirement Savings Solution.
$65 per person (includes lunch)
Substitutions are permitted, however in order to meet program commitments, cancellations made less than two (2) full working days before the program date or "no-shows", must be charged the full registration fee. Cancellations should be submitted, in writing, to firstname.lastname@example.org.
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