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National Save for Retirement Week 2014

Sonja Meets Her Future Self

Wyoming Retirement System is uniquely positioned to be able to help in the development of early financial literacy for Wyoming kids. During National Save for Retirement Week, Wyoming’s First Lady, Carol Mead, and WRS educators will be reading a children’s story developed by WRS, Sonja Meets Her Future Self, to classrooms of elementary school students.

In the story, a young girl named Sonja travels forward in time and meets future versions of herself. Along the way she learns about the importance of saving and what it means to be retired. We encourage you to download the story and read it to the kids in your life and as a reminder to think about your future self.

Download the story here...



Retirement Income Control Panel

The Retirement Income Control Panel (RICP) is a tool available in your 457 Deferred Compensation Plan online account. RICP is a powerful tool that can help you understand your retirement readiness by contrasting your current savings strategy—inclusive of any outside assets, Social Security, and pensions—against future retirement income goals. RICP also suggests strategies for meeting your goals.

You have to be a member of the 457 Plan to have access to RICP. If you are logged into your 457 Account at wrsdcp.com, you can follow along with our RICP Introductory Video in your own account.

National Save for Retirement Week provides an opportunity for employees to reflect on their personal retirement goals and determine if they are on target to reach those goals.

National Save for Retirement Week commenced in 2006, when Senators Gordon Smith (R-OR) and Kent Conrad (D-ND) introduced the first resolution establishing National Save for Retirement Week. Their goals were to elevate public knowledge about retirement savings and to encourage employees to save and participate in their employer-sponsored retirement plans.

In recent years, Wyoming's own Senator Mike Enzi has co-sponsored the Senate Resolution for National Save for Retirement week. Earlier this month, Governor Matt Mead signed a proclamation declaring the same week Wyoming Save for Retirement Week in support of the national effort.

 

Meet Your Future Self

This year, the Wyoming Retirement System is focused on encouraging members, and all Wyoming's citizens, to take some time to consider their "future self." Research indicates that people who spend time envisioning potential outcomes can as much as double their intended retirement savings rate.

Today, take some time to imagine you are living comfortably during retirement. What does that look like to you? Write down a description so someone reading it can also imagine and understand what you’re thinking and feeling.

 

Take Action

If you work for a participating employer, consider enrolling in the Wyoming Retirement System 457 Deferred Compensation Plan. If you are already a 457 Plan participant consider increasing your contribution today.

The WRS Deferred Compensation 457 Plan is designed to help you invest for retirement. You contribute a portion of your salary to the plan each month, and your contributions are automatically deducted from your paycheck – before you’re tempted to spend that money on something else.