ASEC Mission: To make saving and retirement planning a priority for all Americans.
From the American Savings Education Council (ASEC):
- We realize this goal by educating the public about all aspects of financial security through our coalition of major public- and private-sector partners.
- For more about ASEC, download this brochure
September 1, 2010
EBRI’s Dallas Salisbury an Inaugural Panelist on “Ideas in Action” Debut Program Sept. 5
EBRI President Dallas Salisbury will be a panelist on “Ideas in Action,” a new weekly public policy TV program that debuts in the Washington, DC, market Sunday, Sept. 5.
News Advisory
August 31, 2010
October 13th Financial Literacy Summit in New Jersey
New Jersey Financial Literacy Summit -- Financial Literacy: An Imperative for All NJ Students
August 26, 2010
FLEC Requesting Comments on Financial Education Core Competancies
The Department of the Treasury, in its capacity as Chair of the Financial Literacy and Education Commission, invites the public to comment on a proposed set of financial education core competencies. Comments are requested specifically on whether the list of Core Competencies is complete and whether there are portions that should be deleted, revised, or expanded.
Federal Register – vol. 75, no. 165 – Thursday august 26, 2010 – Notices
Department of the Treasury, Financial Education Core Competencies; Comment Request.
August 20, 2010
2nd Quarter 2010 401(k) Data from Fidelity Investments
Fidelity released its Q2 2010 401(k) plan data. The data highlight that while the savings behavior of the majority of participants has remained strong (balances are up 15% year over year, average deferral rates have remained at 8% and more participants increased deferrals than decreased), loans and hardship withdrawals have increased. A few key points:
- Loans initiated over the past 12 months grew to 11 percent of total active participants, up from 9 percent the year before
- The portion of participants with a loan outstanding also grew by 2 percentage points in Q2 to 22%
- As of the second quarter, 2.2 percent of Fidelity active participants took a hardship withdrawal, up from 2.0 percent the year prior
Plan sponsors report the main reasons for the increase in loan and hardship activity have been to prevent foreclosure or eviction, pay for college or to purchase a home. The average age of those taking a loan or hardship is between 35-55 years old.
August 20, 2010 Fidelity Press Release
Plugging the Leaks in the DC System: Bridging the Gap to a More Secure Retirement – A Building Futures Report: Q2 2010
Fidelity Contact for Questions:
If you have any questions on this report please contact Andrew Schreiner, Senior Director, Fidelity Investments, Government Relations and Public Policy at andrew.schreiner@fmr.com
August 18, 2010
Spanish Language Resources on Choose to Save
ASEC recently updated the Spanish language content on the Choose to Save Web site, http://choosetosave.org/resources/#SpanishSpeakers, to reflect content being produced by all of the ASEC partners. While we tried to include all of ASEC partner Spanish financial capability content, if you notice that any brochures/quizzes/pages are missing, please feel free to contact me and we will update the page.
August 17, 2010
The New Consumer Financial Protection Bureau, Consumers, and Consumer Educators
The following comes from ASEC Partner, U.S. Department of Agriculture, National Institute of Food and Agriculture.
The Financial Security for All Community of Practice is pleased to invite you to the upcoming webinar "The New Consumer Financial Protection Bureau, Consumers, and Consumer Educators" on September 16th from 11:00AM -12:30 PM. We are excited to have Dr. Jeanne Hogarth sharing her insights and expertise about the Bureau created by the 2010 Financial Reform Law and what things might impact consumers and consumer educators. Dr. Jeanne Hogarth is the Manager for Consumer Education & Research at the Federal Reserve Board. Her bio is on the Federal Reserve Board’s web site.
The webinar is hosted by Dr. Michael S. Gutter, Family Financial Management Specialist, University of Florida on behalf of the Financial Security for All Community of Practice. Please direct any questions regarding the webinar to Dr. Gutter msgutter@ufl.edu
Note that the format of the webinar will permit participants to solicit questions for Dr. Hogarth submitted to the host via chat box. Participants will be able to listen to Dr. Hogarth and view the presentation at http://connect.extension.iastate.edu/managingmoney
Please log on 5-10 minutes prior to the start of the conference to allow for any needed plug-ins to update.
August 16, 2010
Developing a Research Agenda on Small-Dollar Credit and Financial Empowerment.
As part of the Office of Financial Education and Financial Access’ financial capability strategy, the Office convened a meeting in March 2010 on Developing a Research Agenda on Small-Dollar Credit and Financial Empowerment. This meeting gathered 50 foundation representatives and researchers from academia, government, the nonprofit sector, and industry to share insights as to what research questions need to be answered so that policy can be made, especially at the federal level, to ensure that credit meets consumer needs, is provided fairly and clearly, is viable for credit providers, and is available in appropriate amounts, forms, prices, and venues. The goal of the convening was to identify what research is underway, planned, and needed to inform policymaking that can address the challenges related to meeting the small-dollar credit needs of underserved populations, notably low- and moderate-income individuals. The meeting was convened with the assistance of The Urban Institute and the Center for Financial Services Innovation.
A summary of the meeting, Developing a Research Agenda on Small-Dollar Credit and Financial Empowerment.
If you would like additional information, contact The Office of Financial Education at ofe@do.treas.gov, with the subject line: Research.
August 13, 2010
Video Honoring 75 Years of the Social Security Program
National Academy of Social Security (NASI) honors the Social Security program with
Social Security at 75: A Cornerstone of America's Future
August 14th is the 75th Anniversary of the signing of the Social Security Act by President Franklin D. Roosevelt. Social Security continues to be a critical economic lifeline for millions of Americans. NASI is proud to release a short video in honor of this historic milestone. Feel free to share it with your friends and colleagues by forwarding this link: http://www.nasi.org/research/2010/social-security-75-cornerstone-americas-future
Since the first benefit was paid 70 years ago, and through many economic ups and downs, Social Security has never missed a payment. As noted by NASI President Janice Gregory, despite concerns about Social Security’s long-term stability, the truth is that the program is in good financial shape (Social Security Finances: Findings of the 2010 Trustees Report) and, with some sensible improvements (Fixing Social Security), will continue to provide security to millions of American’s for generations to come.
NASI’s research (Americans’ Views on Social Security) finds that three in four Americans – across party lines – say it is critical to preserve Social Security even if it means paying higher taxes to do so. Americans are willing to pay for Social Security because they value it for themselves, for their families, and for the security and stability it provides retired workers, disabled individuals, and the children and widowed spouses of deceased workers.
The legislation FDR signed in 1935 underscored that the program is part of a critical foundation that allows capitalism to survive and to thrive in America by protecting American workers against the risks of old age and disability, and their families against the risk of the worker’s death.
Please join us in celebrating the 75th Anniversary of this cornerstone of American economic security. To view the celebratory video, click here.
August 12, 2010
FTC Sues Scammers Targeting the Uninsured
On August 11, 2010, the FTC announced Operation Health Care Hustle, a crackdown on scammers targeting people in need of health insurance. They trick people into thinking they’re buying health insurance when it’s really a medical discount plan.
Medical discount plans are not the same as health insurance and aren’t a substitute for it. While some medical discount plans may provide legitimate discounts from certain health care providers, you have to pay for the costs of your treatment, and many plans don’t make good on their promises.
At Medical Discount Plans you and your readers can learn more about these scams and the warning signs to look out for, such as pressure to buy immediately or promises of specific discounts. You’ll also find out where to go to check out a plan before you buy.
We hope you’ll share this site with your readers so they can make informed decisions. Feel free to link to, post or adapt any of our materials.
Press Release:
FTC, State Attorneys General, Insurance Commissioners Crack Down on Bogus "Medical Discount Plans" Peddled to the Uninsured, Uninsurable, and Unemployed
August 12, 2010
American Express and Jean Chatzky Launch "The National Money Night Talk"
AMERICAN EXPRESS AND JEAN CHATZKY LAUNCH “THE NATIONAL MONEY NIGHT TALK” PROGRAM TO HELP PARENTS EDUCATE KIDS ABOUT FINANCIAL RESPONSIBILITY
Survey Shows Parents Want Resources to Teach the Importance of Money Management
Parents Encouraged to Access Tips and Take Pledge to Have “The Talk”
American Express and personal finance expert Jean Chatzky today announced the launch of “The National Money Night Talk.” This new program, which culminates on September 16, encourages families around the country to sit down and talk about money and financial responsibility. To help parents get prepared to have “the talk,” American Express and Chatzky have created a new online resource now available at www.moneynighttalk.com. On the site, parents can sign a pledge that they will talk to their kids about money and access exclusive Jean Chatzky videos and resources endorsed by the Council for Economic Education, based on the organization’s national content standards.
Press Release providing further details.
August 11, 2010
American Saves Week 2010 Summary Report
The fourth annual America Saves Week was held February 21-28, 2010 and saw record participation. Like previous years, millions of Americans were reached with savings advice, encouragement and opportunities. America Saves Week 2010 saw the largest coalition and organizational participation to date.
America Saves and ASEC are pleased to release a summary of activities during America Saves Week 2010.
We are planning for America Saves Week 2011, February 20-27, 2011.
August 6, 2010
U.S. Departments of Labor and Treasury to hold hearing on specific issues related to lifetime income options for retirement plans
The U. S. Department of Labor's Employee Benefits Security Administration (EBSA) and the Department of the Treasury today (August 5th) announced a joint public hearing on Sept. 14, 2010, and if necessary on Sept. 15, to hear testimony on several specific issues relating to lifetime income and other arrangements that provide a stream of income after retirement for workers in employer-sponsored retirement plans. The hearing will begin at 9:00 a.m. in the Labor Department's auditorium, 200 Constitution Ave., N.W. in Washington, D.C.
The departments received approximately 780 public comments in response to the request for information (RFI) published in the Feb. 2, 2010 Federal Register. The purpose of the hearing is to gather additional information on discrete technical issues and proposals raised in RFI submissions.
EBSA News Release dated August 5, 2010
Hearing on Certain Issues Relating to Lifetime Income Options for Participants and Beneficiaries in Retirement Plans; Notice of hearing
August 5, 2010
2010 Trustees Reports for Social Security and Medicare
The 2010 Trustee Reports on the financial status of the Social Security and Medicare programs were released today. The following links will take you to those reports.
2010 Social Security Trustees Report
2010 Medicare Trustees Report
August 5, 2010
Grant Funding Opportunity
U.S. Department of Education/Council for Economic Education
Excellence in Economic Education Program
The Council for Economic Education announced a new sub-grant competition funded by the U.S. Department of Education's Office of Innovation and Improvement Excellence in Economic Education.
Purpose: To promote economic and financial literacy among students in kindergarten through grade 12.
Further details
ASEC Portal
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