May 29, 2009

Contact: Emerson Brown, NPR

NPR NEWS EXPLORES A NATION "RETHINKING RETIREMENT" IN THE WAKE OF THE ECONOMIC DOWNTURN

WEEKLONG SERIES AIRS JUNE 1-5 ON ALL THINGS CONSIDERED; NPR.org TO OFFER RETIREMENT CALCULATOR, ADDITIONAL PLANNING TOOLS


May 29, 2009; Washington, D.C. - The first generation of workers with 401K plans is preparing to retire, but the ongoing economic crisis has left many with accounts insufficient to support basic retirement. NPR assesses the new reality of planning for life after work in America in the weeklong series "Rethinking Retirement," airing June 1-5 on All Things Considered and available online at www.NPR.org Through reports from different areas of the country and interviews with financial analysts and experts, the series reveals a comprehensive picture of how people of different ages, backgrounds and locales are facing new and distinct difficulties looking towards their "golden years." "Rethinking Retirement" also addresses how the economic crisis has affected retirees' traditional financial resources.

In addition to airing on All Things Considered, the entire series will be available at www.NPR.org, which will also offer a calculator for estimating retirement income and additional information on changes to the average retiree's net worth and age. Audiences are invited to submit questions about retirement at http://www.npr.org/templates/story/story.php?storyId=104358269 Select questions will be answered on-air, as All Things Considered host Melissa Block takes those questions to a financial expert.

NPR correspondents Greg Allen, Adam Hochberg and Wendy Kaufman profile people in their 60s, 50s and 40s, each living in different areas of the country and under different circumstances - a man in his 60s who, instead of retiring, is job-hunting again; a North Carolina community college retraining middle-aged workers for new careers; and people in their 40s planning and thinking differently about life after work.

"Rethinking Retirement" also examines the unique challenges facing retirees in rural areas. In Nebraska and Iowa, correspondent Howard Berkes finds that the recession has had a mixed impact on people nearing retirement: farmers and ranchers have benefited from high commodity prices and land values that are holding, but manufacturing is a bigger part of the rural economy, and older workers who've lost those jobs are not faring nearly as well.

Book-ending the series are reports on two mainstays of retirement: the 401K and Social Security. As stock market losses leave many with insufficient 401K savings, All Things Considered host Robert Siegel will ask some big policy questions while NPR's Martin Kaste talks to people who put their faith in 401Ks. NPR's Scott Horsley reports on how Social Security faces its biggest burdens ever, as people live longer.

"Rethinking Retirement" continues NPR's ongoing, extensive business, financial and economic coverage across all of its programs and platforms. NPR's multimedia reporting project Planet Money covers the global economy in regular on-air reports, and also on its blog and podcast: www.NPR.org/money Last month, NPR wrapped "100 Days: On the Road In Troubled Times," a road trip exploring the moods and attitudes of people across the country about the economic crisis during the Obama Administrations first 100 days in office. The entire series, along with all financial and business news, is available at: www.NPR.org/business

All Things Considered, NPR's signature afternoon newsmagazine, is broadcast on more than 660 NPR Member stations nationwide, reaching 13 million listeners weekly. The two-hour weekday program is hosted by Melissa Block, Michele Norris and Robert Siegel.