Wachovia Retirement Services Puts Retirement in Perspective for
Institutional Clients
CHARLOTTE, N.C., June 23 /PRNewswire-FirstCall/ -- Wachovia Retirement
Services (WRS) has released an interactive e-video called "Retirement
Success." The five-minute video was created to help inform 2.2 million plan
participants whose 401(k) accounts are managed by WRS about the key
behaviors that drive retirement success.
"Generally, employees attend plan enrollment meetings and receive
lengthy and complex enrollment materials," said Mary Hollingsworth,
director of Participant Services. "From our research, we know that
participants find it difficult to wade through the complexity of all the
information they receive. We want participants to understand that saving
for retirement is very basic, and we hope this interactive experience will
become a key tool in helping people achieve the best possible retirement
outcome."
A link is available on the WRS Web site so participants can view the
interactive video at their convenience:
http://www.wachoviaretirementsuccess.com/ .
The WRS video features a spokesperson who talks through the importance
of contributing as much of your pre-tax earnings as you can and the
necessity of ensuring that your contributions are appropriately balanced
for the stage of your life and your tolerance for risk. An interactive tool
allows viewers to create custom projections based on their salary and
contribution levels.
Wachovia's video informs plan participants about the key behaviors that
drive retirement success. To be successful, you must:
-- Participate in your company plan and invest 6 percent or more of
your pre-tax earnings, or at least as much as the company match.
-- Do the math: Figure out what you need to save in order to replace
roughly 80 percent of your pre-retirement income once you're retired.
-- Allocate your assets based on your age and risk profile, and
remember to rebalance annually
"People can't control the market or the performance of their
investments," Hollingsworth said. "But you can control how much you
contribute and how you allocate your assets. Understanding and applying
this knowledge can make a huge difference in the value of your retirement
portfolio over time."
About Wachovia Retirement Services
WRS provides recordkeeping, administration, education, investment
options and health savings account services to more than 2.2 million plan
participants with more than $105 billion in assets in more than 6,600
retirement plans. In 2007, Wachovia was rated as the second best provider
for client loyalty in the retirement industry by the annual Boston Research
Group survey.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $808.9 billion and
market capitalization of $53.8 billion at March 31, 2008. Wachovia provides
a broad range of retail banking and brokerage, asset and wealth management,
and corporate and investment banking products and services to customers
through 3,300 retail financial centers in 21 states from Connecticut to
Florida and west to Texas and California, and nationwide retail brokerage,
mortgage lending and auto finance businesses. Globally, clients are served
in selected corporate and institutional sectors and through more than 40
international offices. Our retail brokerage operations under the Wachovia
Securities brand name manage more than $1.1 trillion in client assets
through 18,600 registered representatives in 1,500 offices nationwide.
SOURCE Wachovia Corporation
 back to top
Related links:
http://www.wachoviaretirementsuccess.com
http://www.wachovia.com/
CONTACT:
Damon Ford of Wachovia Corporation,
+1-704-383-0092
|
