The Women's Bureau of the U.S. Department of Labor, headed by SESP alumna Shinae Chun (MA71), hosted a conference for executives of Fortune 1,000 companies called "Wi$eUp: The Benefits of Creating a Financially Savvy Employee." The July 9 conference aimed to assist executives with helping their workers, particularly women, plan for a secure retirement."From Main Street to Wall Street, working women have dreams and aspirations that can only be realized through financial security," said Chun. "Wi$eUp can help get them there." Launched by the Women's Bureau in 2004, Wi$eUp is a financial education project dedicated to helping young women reduce debt and increase savings and investments.
At the conference, U.S. Secretary of Labor Elaine L. Chao challenged executives to participate in the Wi$eUp program. "Women retiring at age 65 can expect to live another 19 years - three years longer than a man retiring at the same age - yet studies show that there is a retirement planning gender gap and women are on the wrong side of it," said Chao. "The Wi$eUp program helps women make better informed financial decisions and is part of our effort to protect workers' pensions and increase participation in employer provided defined contribution savings plans through automatic enrollment."
The Wi$eUp curriculum is available online at www.wiseupwomen.org and also in classroom settings at educational institutions and other organizations. The eight-part curriculum covers setting financial goals, budgeting, use of credit, saving, insurance, smart investing and retirement planning.
Web-based materials offer a complimentary "e-mentoring" component, and an "Ask the Experts" feature allows participants to send questions via e-mail to volunteers with financial expertise. The Wi$eUp program also includes a series of national teleconference calls on topics such as consumer credit, financial recordkeeping and student loans.
Photo:
SESP alumna Shinae Chun (second from right), the director of the Women's Bureau of the U.S. Department of Labor, participates in the "Wi$eUp" conference on July 9.
Last Modified: 8/14/09