Study Shows Value of Personal Savings in Retirement

A recent national study validates the importance of having personal savings as a primary source of income in retirement.

According to the study, personal savings (including individual retirement accounts and other investment accounts) are expected as a primary source of retirement income by government workers in the education (74%), public safety (78%), health and human services (75%), and other state/local government (73%) sectors.

Along with a WRS pension, a supplemental retirement savings plan like the Wisconsin Deferred Compensation Program (WDC) is equally important for WRS members to grow their personal savings and attain a financially comfortable and secure retirement.

In June, the WDC will host 30-minute webinars on “Your Journey to Retirement” for non-retired WRS members, whether a WDC participant or not.

Topics include WDC basics like enrolling, contribution limits, investment options, and pre-tax vs. Roth contributions; risk and asset allocation; rollovers into the WDC; and WDC’s Retirement Readiness Reviews. A local WDC retirement plan advisor will be available to answer questions and provide additional resources.

 

 

 

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