Beyond Social Security Reform, Retirement Planning Gets ``Personal''.

CHICAGO -- The changing retirement landscape presents an increasingly "personal" challenge to those planning to live their golden years in comfort, says John Nersesian, Managing Director, Wealth Management Services, Nuveen Investments.

"Retirement planning is getting very personal," said Nersesian, a wealth management expert with 20 years of experience. "With corporations moving away from traditional pension plans and Social Security reform under discussion, individuals can no longer depend solely on their companies or their government to provide the funding needed to pay for a comfortable retirement lifestyle.

"Personal savings vehicles, including IRAs, 401(k)s and proposed LSAs/RSAs, will become increasingly important in the future. While high net worth individuals may already be well-positioned, mainstream Americans must rise to the challenge - or possibly face a nasty surprise in their later years."

Current calls for Social Security reform have suggested a change in approach similar to the private sector's move from a Defined Benefit structure of guaranteed pensions to a Defined Contribution structure that promises only pre-retirement payments but gives employees more control over their retirement savings.

"The challenge with Social Security reform," notes Nersesian, "is to preserve the underlying principles of the current program for today's retirees while updating the system to ensure future viability for our children."

Among several reform suggestions are: delaying benefit payments by changing full retirement age eligibility; reducing current benefits and canceling future increases; increasing contributions above the current 12.4 percent of payroll; or trying to increase available funding through privatization.

Amid all this potential change, education will be critical. "Just as companies have had to help employees learn about 401(k) plans, any Social Security reform will require a re-education of the investing public," Nersesian said. "It's great in theory for people to have more control over their retirement dollars, but with more control comes more responsibility and the need for knowledge. Fortunately, financial advisors will be available to help many individuals with their personal retirement planning."

The Social Security Administration's website at www.ssa.gov has detailed information on current benefits offered by the program, including a calculator to help estimate personal benefits. Additional information on wealth management and retirement planning is available at the Nuveen Investments Generations website at www.nuveen.com/generations.

Nuveen Investments provides high-quality investment services designed to help secure long-term client goals. The Company serves institutional clients, financial advisors and high-net-worth investors. The firm's asset management capabilities are marketed through four distinct brands, each with an independent investment team and area of expertise: Nuveen, focused on fixed-income investments; NWQ, specializing in value-style equities; Rittenhouse, dedicated to blue chip growth equities; and Symphony, with expertise in alternative investments and structured equity and income portfolios. In total, the Company manages approximately $119 billion in assets. Nuveen Investments, Inc. is listed on the New York Stock Exchange and trades under the symbol "JNC."