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Labor Department Promotes 401(k) Participation

By Staff Writer

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NU Online News Service, July 1, 2004, 12:23 p.m. EDT

The U.S. Department of Labor wants to encourage more workers of all ages to participate in employer-sponsored retirement plans.[@@]

The department is trying to promote participation with a new “Build Wealth at Work” public service announcement campaign.

The campaign includes a series of 4 print announcements aimed at workers in specific age groups. The age groups targeted are the Millennial Generation, Generation X, the Baby Boom Generation and the “Silent Generation,” which includes workers who are now at least 60.

The Labor Department also has released a series of radio sound bites featuring U.S. Secretary of Labor Elaine Chao talking about the importance of contributing to 401(k) plans and similar employer-sponsored retirement savings plans.