by Nick Delgado
Guam - A presentation was held today at the Hyatt Hotel in Tumon to discuss the importance of retirement plans for those running small businesses on island. Merrill Lynch retirement specialist Mike O'Connor is on island this week to further discuss Department of Labor rules and regulations along with proposed legislation coming out of Washington, DC when it comes to retirement plans.
He said, "Because no one else is investing for them, Social Security is questionable, pension plans for people, unless you're in the military or in the government, are pretty much gone and the only way we can save for our retirement plan is to do it ourselves. The 401(k) plans and retirement plans that companies offer give us an opportunity to have an avenue to save that money."
While a presentation was held today with small business owners, another will be held tomorrow with local investors. You still have time to register by calling 477-9158.