Department of Employee Trust Funds
July 30, 2015
Workshop: Caregiving and Its Effect on You
Do you have aging parents? If so, it’s important for you to understand the potential effects of being a caregiver. The Department of Employee Trust Funds is offering a free workshop on August 12 designed to increase awareness about the financial and emotional effects of caregiving.
The workshop is a part of ETF’s EMPOWER campaign. One session will be offered in downtown Madison, as follows. No registration required. You can also attend via webcast at http://1.usa.gov/1OBL9Do.
Wednesday, August 12
Noon to 1:00 p.m.
Department of Health Services
1 West Wilson St.
Conference Room 751
Topics to be covered include:
- Family and caregiver financial planning
- Protecting your personal retirement financial security
- Community resources to assist you and your loved ones
- Kira Stewart, BS, CN, Early Detection and Prevention Dementia Specialist
- Tarna Hunter, Department of Employee Trust Funds
Women remain the primary caregivers in our society and they are spending a significant part of their adult lives moving in and out of the workforce to fulfill caregiving responsibilities. It’s important to consider the consequences of a woman’s potential role as a future caregiver. For example:
- In an estimated 36.5 million households across the country, an adult is providing unpaid care to a family member – 60% of those caregivers are women.
- 70% of caregivers make adjustments to work schedules to accommodate caregiving responsibilities
- Caregivers pay $5,531 annually in out-of-pocket costs for caregiving
- Caregivers lose more than $659,000 over a lifetime, the sum of reduced salary and reduced retirement benefits.
EMPOWER is a statewide educational campaign to inspire and encourage women to save for their retirement. Sponsored by the Department of Employee Trust Funds, the Wisconsin Deferred Compensation Program, and Affirmative Action Committees at Wisconsin state agencies.