By Kathryn Kretschmer-Weyland
July 16, 2007

Nationwide Retirement Solutions (NRS), a Platinum Partner, held a workshop at the 75th Annual Meeting on the importance of helping city employees “Ensure Financial Survival in Retirement.” Akron Mayor Donald Plusquellic opened the workshop to address the importance of the relationship between USCM and NRS that extends over 27 years. Plusquellic stated, “It is important for city employees to understand how to use financial tools in planning for their financial future and the benefits of Nationwide through their education approach.” Louie Watson, Vice President of Strategic Relationships, emphasized NRS’s commitment to serving the educational needs of city employees to helping them plan financially for retirement.

Emanuel Mahand, NRS Program Director for NY/NJ, opened the workshop by asking mayors, “How many of you are looking forward to retiring.” He followed by discussing how planning for retirement is hugely emotional and more time should be spent on planning. One stunning slide he displayed showed that “68 percent of Americans at age 65 were either broke or working to make ends meet.” His point was emphasized when mayors began to share their personal testimonies about their retirement goals.

Cheryl Martin, NRS Senior Retirement Specialist for Georgia, delivered a step by step process to empower attendees on how they can begin planning today to “bridge any gaps” they may have prior to their retirement. This included a worksheet to calculate any shortfalls one may have.

The workshop ended with a “Mayor’s Call to Action.” These actions include:

• Advocate for the USCM Deferred Compensation program - include the USCM Deferred Compensation program in their city.

• Encourage participation by city employees

• Promote financial educational initiatives in your city — it is important employees become informed about financial planning for the future

• Become Ambassadors! — promote the benefits of the USCM Deferred Compensation Program

The Conference is the sponsor of the USCM Deferred Compensation Plan administered by Nationwide. Since 1973, Nationwide is the plan of choice in nearly 4,000 cities and over 300,000 city employees across the country. Nationwide is the deferred compensation market leader with over 8,000 plans with assets in excess of $46 billion dollars.

For additional information on the Conference of Mayors Deferred Compensation Plan offered by NRS, contact Kathryn Kretschmer-Weyland at 301-460-5251 or kweyland@usmayors.org.