Treasurer Cowell Urges North Carolinians to 'Commit to Save' for Retirement
North Carolinians pledge to save more than $560,000 for
National Save for Retirement Week
RALEIGH – State Treasurer Janet Cowell announced today that
North Carolinians have pledged to save more than $560,000 per year toward
retirement as part of the Department of State Treasurer’s “Commit to Save”
campaign. The campaign was designed to encourage North Carolinians to set aside
money for their future in recognition of National Save for Retirement Week,
“The good news is we are living longer, healthier lives.
However, at the same time, the dollar does not go as far as it used to,” Cowell
said. “We need to take action now to make sure we have the money we need to
live comfortably during the years we will spend in retirement.”
The “Commit to Save” campaign launched at the North Carolina
State Fair on Oct. 11. During the fair, citizens from across the state made a
commitment to save extra money in preparation for retirement.
Financial experts predict that retirees need between 80 and
100 percent of their pre-retirement income to maintain their lifestyle after
retirement. Yet, surveys show that most Americans remain unprepared for
retirement. By saving just $5 a day, one person could save $18,000 at the end
of 10 years, or more than $36,000 at the end of 20 years.
National Save for Retirement Week is part of a national
campaign to help educate working citizens about what is needed for a secure
retirement, and to help them understand their personal responsibility for
saving for the future.
Treasurer Cowell encourages North Carolinians to make their
commitment to save on the Department’s website at www.nctreasurer.com before
Sunday, Oct. 28. The website also contains a variety of resources on budgeting,
saving and investing to help North Carolinians achieve long-term financial
The North Carolina Retirement Systems, the formal name for
the pension fund, is now the eleventh largest public pension fund in the
country. It provides retirement benefits and savings for more than 875,000
North Carolinians, including teachers, state employees, firefighters, police
officers and other public workers. For more information, visit