to contribute 50 to your 401k Would you take it Why Saver Nation Americans can t afford to save for retirement 27 say they have less than 1000 in savings 54 say they have less than 25000 in total savings and investments ID: 684541
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Slide1Slide2
I
f offered to contribute $50 to your 401(k)…
Would you take it?Slide3Slide4
Why
SaverNationAmericans can’t afford to save for retirement*
27% say they have less than $1,000 in savings54% say they have less than $25,000 in total savings and investmentsNational Savings rate has been near 0% for 30+ years
Only 10% in any income strata contribute the annual maximum
For 30 years, the retirement industry has attempted to change people’s saving and spending behavior.
* 2010 EBRI
Databook on
Employee
Benefits
Why nothing has worked: People don’t have enough money to save more Hard to change people’s behavior
75% of respondents
sayThe #1 reason they don't save more:They can't afford to
EBRI's annualRetirement Confidence Survey
1
2Slide5
The
401(k) system has been a dud for the vast majority of Americans, with women, young people and minorities among the broad groups whose financial well-being is at risk because they’re not saving enough.For middle-income earners, the median balance in 401(k) plans as of 2010 was a lowly $23,000, according to the study.Slide6Slide7
The SaverNation Program is Patent Pending
Proprietary and Confidential, SaveAmerica LLCSlide8
Cash Back for
Retirement
with
Every
Purchase
Online Shopping Program
Credit Card Program
Payroll
SaverNation
Technology Platform
401(k)
IRASlide9
$4,000
gross income
-$200 401(k
) contribution
$3,800
adjusted gross
-
$950
taxes (25% rate)$2,850 available cash$200 401(k) savings
$4,000 gross income$3,650 adjusted gross-$913 taxes (25% rate)$2,737
take-home pay +
$150 extra in checking acct.$2,887available cash$350 401(k) savings
-$200 401(k) contribution$2,850
take-home pay
-
$150 SN 401(k) contribution
+$150
cash back from online purchases
deposited into checking account
More
Savings
and
More
Cash
Paycheck Before
Saver
Nation
Cash Back Earned
with
Saver
Nation
Paycheck with
Saver
NationSlide10
How the average person can increase
their retirement savings with
sssssssssss
Savings Before
Savings After
Amount people currently have
saved
in their
retirement plan
1
Potential
additional contributions
from cash back
rewards
using
SaverNation
2
Total amount people could save for retirement using
SaverNation
$71,500
$130,913
$202,413
1
The average 401(k) account balance per Fidelity Investments, February 23, 2011
2
Assumes average monthly SaverNation purchases of $500 at a 5% reward level, 8% annual return, and 50% match over 40 years
The SaverNation Program is Patent Pending
Proprietary and Confidential, SaveAmerica LLCSlide11
Saver
Nation BenefitsNo costs to the plan, employer or participantsIncreases participation and contribution ratesWorks with all plans
Can help plan’s ADP testingSlide12Slide13Slide14Slide15
The Program
Cash back for your 401(k) with every purchase
Christy Noel
christy@savernation.org
(424) 223-5153
The SaverNation Program is Patent Pending