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February 28, 2008
DOL Provides New Online Retirement Planning Tool
The U.S. Department of Labor (DOL) has released a new online resource intended to help employees prepare for a financially secure retirement.

The resource is a series of interactive worksheets that allow individuals who are 10 to 15 years from retirement to calculate their income and savings as well as their projected expenses in retirement. They were developed as a companion to a 2006 booklet called "Taking the Mystery Out of Retirement Planning."

"Americans are living longer, healthier lives and need to plan for their retirement," said U.S. Secretary of Labor Elaine L. Chao in a DOL press release. "These interactive worksheets will give workers and their families a better perspective on how much they need to save to ensure that they can realize their retirement dreams."

The worksheets are available on the DOL website at www.dol.gov/ebsa/publications/nearretirement.html. The free booklet is also available online at www.dol.gov/ebsa/publications/main.html.

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