Thursday, December 22, 2005
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8988
NASD Foundation Awards Grant to University of Tennessee to Deliver Workplace Investor Education to Young Adults
Washington, D.C. — The NASD Investor Education Foundation has awarded a grant of $237,081 to the University of Tennessee to deliver worksite education to help young adults to gain investment skills and learn how to plan for retirement.
The project, entitled Preparing Young Employees to Build Wealth Over Their Working Careers, will develop online curricula and education methodology that can be customized to worksite education needs. Local educators and employers will be engaged in delivering investor education and in developing a workplace culture that will support and sustain good financial practices of young employees. The project will encompass 107 worksites, including professional, educational, military, or government locations in Florida, Kansas, Kentucky, and Tennessee. It will employ 165 local financial educators to instruct close to 10,000 young employees between the ages of 18 and 24. The project will be designed for replication nationwide.
"It may be difficult for the younger generation to envision what life will be like in 30 or 40 years, but how they live out their retirement will depend on the choices they make today," said Robert R. Glauber, Chairman & CEO of NASD, who also serves as Chairman of the NASD Investor Education Foundation. "The NASD Foundation hopes this project will motivate young working adults to gain on-the-job investment skills that will help them secure their financial futures through retirement."
The curricula selected for the project will help young adults devise a strategy for building wealth, setting retirement goals and learning how to assess and manage risk. Materials developed through a 2004 NASD Foundation grant to Louisiana State University will be incorporated into the project. The University of Tennessee will develop and implement this program in conjunction with Kansas State University, The University of Florida and The University of Kentucky.
"The University of Tennessee Extension is excited to be giving leadership to a project that engages three other major public universities and their education partners in worksite investor education," said Dr. Dena Wise, Associate Professor and Extension Specialist in Family & Consumer Sciences. "It is vital that today's young employees focus, early in their working careers, on building a secure financial future through retirement. We hope our project will make a significant contribution to that goal."
The NASD Investor Education Foundation, established in 2003, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of financial planning. The Foundation has awarded over $2.4 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site, www.nasd.com, printed materials and Investor Forums.