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A participant resource for simplified and unbiased help
The recently formed National Association of Retirement Plan Participants (NARPP) has launched a financial education website for Americans participating in 401(k) or other savings plans.The website is designed to be a source for simplified and unbiased help in making retirement and other financial decisions. It does not accept advertising, nor does it sell products and services.
NARPP describes itself as “the only organization in the country that is solely dedicated to the 145 million working Americans saving for retirement. We are completely independent, unbiased and transparent.”
“Financial decisions, and retirement planning in particular, have gotten incredibly complicated in the 21st century. One of the key goals of NARPP is to make it a lot easier for people to make the right choices for their financial futures,” said UCLA Professor Shlomo Benartzi, one of NARPP’s co-founders, in a released statement. “I have always thought that we need an independent organization like NARPP to help plan participants make better decisions.”
“The individual has 100 percent of the responsibility” for managing their savings and investment decisions regarding a defined contribution retirement plan, but “this is something few people are equipped to do,” added Laurie Rowley, NARPP’s co-founder and president. “Financial behaviors influence all aspects of personal health and well-being. If we want people to thrive, we have to give them the appropriate tools and resources to help make that happen.”
The content of the NARPP website is designed to give readers an on-demand educational experience to help them avoid common mistakes and navigate the complex world of retirement savings. Highlights include simple answers to common savings and financial questions, along with tools to help pay down debt and make a budget. New content will be added on a regular basis.
NARPP said it is working with various stakeholder groups to reach its target audience of plan participants, including employers, retirement advisors, and other nonprofit groups and organizations committed to improving financial security for working Americans.
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