Choose to Save® Campaign
Encourages Americans to Save More

“Amidst the growing debate about the privatization of the Social Security system, there is a simple truth that cannot be debated or ignored: Americans are not saving nearly enough to insure a comfortable retirement and meet their long-term financial obligations,” points out Dallas Salisbury, President and CEO of the Employee Benefit Research Instiute (EBRI).

In July 2000, the Employee Benefits Research Institute, and the American Savings Education Council, launched a national public service advertising (PSA) campaign
to address this problem with a theme: "Choose to Save®." Developed as part of a multi-year program, it encouraged the public to increase their savings, provided information on the importance of retirement planning, and directed respondents to both a toll-free telephone number and a website where they could get more information. The "Choose to Save®" website at www.choosetosave.org features many financial planning tools and materials such as a “Ballpark Estimate” retirement planning worksheet, over 100 financial calculators, and access to all television and radio PSAs created for the CTS public education campaign.

The following facts illustrate how important it is for consumers to plan for their future:

• 58% of workers say they are currently saving for retirement, but the amount they have saved is low, with nearly half of all workers reporting total household assets, excluding their home, at less than $25,000.

• Only 42% of workers report that they have tried to calculate how much money they will need to save to live a comfortable retirement.

• The average Social Security benefit for the year 2000 is only $804 per month, yet 20% of elderly depend totally on those benefits, while another third depend upon SSA benefits for 90% or more of their income.

“As a backdrop to these stark realities, data shows that medical advances may keep us alive until age 100 and almost three-fourths of all Americans admit they could save an additional $20 per week,” Mr. Salisbury points out.

Now entering its fifth year, the Emmy and Telly award winning campaign has generated just under $21 million in verified advertising support among broadcast, cable TV and radio media. The 2005 campaign, consisting of five different PSAs in a variety of spot lengths and themes uses humor, and scenes from old film clips to make a very compelling case for the need to save more, particularly in the years leading up to retirement. For more information, contact: Variny Paladino, (202) 775-6351, Paladino@asec.org.