Products November 7, 2001

First Union Targets Women Savers

July 11, 2001 (PLANSPONSOR.com) - First Union has targeted female investors with an e-mail program focused on their particular concerns.

Reported by

Camilla Klein

The Women’s Retirement planning series, a free online offering, is the latest in First Union’s ongoing email series for prospective and existing customers.

Once registered, participants will receive one email a week for five weeks, covering:

retirement planning,
goal setting and saving
retirement investment vehicles, such as tax-advantaged investments and employer-provided investment plans
retirement income opportunities, and
principles of investing and asset allocation.

Statistics

The program was developed in recognition of women’s financial concerns, highlighted by a survey by the National Center for Women and Retirement, which shows fewer than 50% of women are confident that they are saving enough for retirement.

In addition, research by the Employee Benefit Research Institute:

a little more than half of working women have tried to calculate their financial retirement needs,
but 27% have made no financial plans for retirement, and
two thirds are in without retirement benefits.

The good news is that 54% of women who calculate their retirement needs make changes in their retirement planning as a result,

almost 60% save more, and
just under a quarter change the allocations of their funds