Fidelity^® Survey Finds Nurses Feeling Secure About Their Jobs, But Many Reveal Economy Has Impacted Their Retirement Plans

Majority of Nurses Worry About Retirement, Wish They Could Get More Planning Help

BOSTON – Fidelity Investments^®, the leader in helping employees of health care companies save for retirement¹, announced new research² today showing that while nearly eight in ten nurses (79%) feel secure about their jobs and their financial future, more than seven in ten (71%) revealed they do not feel they are saving enough for retirement. The latter statistic has risen significantly since 2007³, when 57 percent of nurses felt they were not saving enough.

The study of nurses employed in the United States was conducted by an independent research firm for Fidelity. It was designed to provide insight into how the economy and health care industry changes have impacted nurses’ perspectives on their profession and retirement.

"As the leading provider of retirement services for the health care industry, Fidelity is committed to helping nurses and other health care professionals prepare for retirement," said John Ragnoni, executive vice president, Fidelity Tax-Exempt Retirement Services. "This group has very specific and diverse needs and having access to a wide variety of guidance options -- such as one-on-one consultations and online planning tools -- is critical to helping them reach their retirement goals."

Economic Challenges Impact Retirement Readiness, Cause Nurses to Alter Plans
Nearly half (49%) of nurses also report their retirement plans have changed because of the economy and ongoing market volatility. In fact, more than one-quarter (26%) now plan to retire later than they had originally expected and almost one-quarter (22%) plan to work in retirement when they had not previously planned to do so.

In addition, more than four in ten nurses (42%) believe they will now never fully retire. When asked why they will work in retirement, nearly eight in ten (79%) say they will do so because they will need the income to meet basic living expenses -- a significant increase over the 65 percent of nurses who said so in 2007. More nurses also expect to struggle or just make ends meet in retirement compared to 2007 (28% vs. 18%).

Despite having to change their retirement plans, nearly half of nurses still believe they are better prepared for retirement, both emotionally (47%) and financially (45%), than workers in other professions.

Nurses Express Commitment to their Jobs Despite Ongoing Challenges
The study also showed more than half (54%) of nurses "love their jobs and can't imagine giving them up, even in retirement," reflecting their commitment to their profession and patient care, despite working in an industry that continues to experience significant change.

Looking ahead, nearly all nurses (98%) say they anticipate changes in their profession to continue over the next five to ten years due to recent health care reform, rising costs and the challenging economy. When asked about the specific changes they expect, the majority of nurses identified a shortage of qualified workers (59%), more demanding hours (57%) and more nurses leaving the profession (50%). They also expect hospital consolidation to continue -- an activity many say has raised their personal stress levels, lowered morale and impacted their benefits.

Nurses Continue to Save, but Seek Help with Retirement Planning
Although nurses express concerns about retirement and their industry, they continue to save for the future. For example, more than eight in ten nurses (81%) report participating in their workplace savings plan and those who participate say they are saving an average of 9 percent of their annual salary.

Despite this high rate of savings, more than half (54%) of nurses say they find retirement planning to be overwhelming and wish they could get some help. When asked about resources they use to learn about and manage their workplace retirement plans, more than four in ten (43%) say they rely on guidance from a financial professional. One third (33%) also rely on educational materials provided by their employer and nearly one third (31%) rely on online planning tools and calculators.

"Nurses clearly have a passion and commitment to their profession, but are in need of additional help with their retirement planning," said Ragnoni. "Especially in times of considerable change, employers have a significant opportunity to revisit their retirement programs to ensure they are providing the strongest offering possible and that these programs address their employees' needs."

To help health care institutions provide help and guidance to their employees so they can maximize their retirement readiness, Fidelity offers a wide variety of resources, including:

• Access to Fidelity investment professionals via phone, online, mobile or at the firm's more than 160 U.S. Investment Centers

• Free help choosing from a wide variety of retirement and personal savings options

• Award-winning⁴ guidance tools and savings calculators to help participants plan, invest and manage their assets to help achieve retirement readiness

• Educational articles, Webcasts and online content about retirement planning

Fidelity serves more than 3.5 million not-for-profit plan participants in more than 2,000 workplace savings plans across higher education, health care and other institutions. Fidelity is the No. 1 retirement provider to the health care market⁵. For more information, plan sponsors can call: 866-418-5173 or visit Fidelity.com. Plan participants can visit netbenefits.com (log-in required) or Fidelity.com.

About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.6 trillion, including managed assets of $1.6 trillion, as of July 31, 2011. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit Fidelity.com.

1) Based on Q1 2011 data sourced from LIMRA and Fidelity Market Insights Group.

2) Results of the 2011 Fidelity Investments Nurses Study are based on an online survey conducted among a national sample of 408 practicing U.S. nurses. Interviewing for this survey was completed during the period August 8-12, 2011 by Versta Research, not affiliated with Fidelity Investments. The results of this survey may not be representative of all nurses meeting the same criteria as those surveyed for this study.

3) Results of the 2007 Fidelity Investments Nurses Study are based on an online survey conducted among a national sample of 300 practicing U.S. nurses. Interviewing for this survey was completed during the period April 16-20, 2007 by Northstar Research Partners, not affiliated with Fidelity Investments. The results of this survey may not be representative of all nurses meeting the same criteria as those surveyed for this study.

4) Corporate Insight e-Monitor Awards, 2010.

5) Based on Q1 2011 data sourced from LIMRA and Fidelity Market Insights Group.

The results of Fidelity’s 2011 Nurses Study may not be representative of all nurses meeting the same criteria as those surveyed for this study.

Guidance provided by Fidelity is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.

Fidelity, Fidelity Investments, and the Fidelity Investments & Pyramid Design logo are registered service marks of FMR LLC.Fidelity Brokerage Services LLC, Member NYSE, SIPC900 Salem Street, Smithfield, RI 02917

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