Labor Secretary Elaine L. Chao Announces Live Webcast of Summit on Retirement Security

Archived News Release — Caution: Information may be out of date.

WASHINGTON – Secretary of Labor Elaine L. Chao announced today that the U.S. Department of Labor will Webcast portions of the National Summit on Retirement Savings live from Washington, D.C. on Thursday, Feb. 28, 2002.

Congress passed the Savings Are Vital to Everyone Retirement Act (the SAVER Act of 1997), specifying that the President shall convene three national summits on retirement savings. The first summit was held in June 1998 and the second will open Wednesday and continue through the end of this week. 200 public delegates, half appointed by the President and Republican Congressional leaders and half appointed by the Democratic Congressional leadership, will participate in the event which will focus on the generational issues that must be addressed in retirement security policy and discussion.

President Bush and Federal Reserve Chairman Alan Greenspan will join Secretary Chao in speaking to the delegates. These portions of the program will be web cast at the following times:

9:25 a.m. to 9:50 a.m. Secretary Elaine L. Chao

12:40 p.m. to 1:00 p.m. Federal Reserve Chairman Alan Greenspan

After lunch, President George W. Bush will also address the delegates. More scheduling details will be available closer to the event.

The delegates will then break into closed, working group sessions. Using the information gleaned from the speakers’ presentations and model programs that have successfully targeted the life stage they have selected, each working group will develop an action plan for a retirement savings campaign designed specifically to appeal to, and meet the needs of, that generation.

The entire event will be broadcast live over the Internet at http://www.dol.gov/dol/media/webcast/main.htm

“This summit recognizes that changes in how we work and live have caused the issues surrounding retirement security to be different than they were even a decade ago,” Chao said. “President Bush and key members of the Administration are anxious to review the delegates’ recommendations and learn more about how to encourage every American generation to confidently plan for a successful retirement.”

Media who wish to cover the event should contact Elissa Pruett at (202) 693-4676. Press must be credentialed prior to the event.

Archived News Release — Caution: Information may be out of date.