FOR IMMEDIATE RELEASE                                98-54

                          Press Contacts:

                          John J. Nester (202) 942-7083
                          Securities and Exchange Commission

                          Denise Dimler (612) 296-6984
                          Minnesota Department of Commerce



Figuring How Much Money to Save for Retirement Isn't as Hard
                        as Many Think

 Securities regulators, financial pros urge Twin Citians to
                  get a "Ballpark Estimate"


     Washington, D.C., May 22, 1998 -- The road to financial
security starts with six simple steps.  That's all it takes
to fill out the "Ballpark Estimate," a one-page worksheet
that helps people quickly calculate how much money they
should save each year to maintain their same standard of
living in retirement.

     The "Ballpark Estimate" was created by the American
Savings Education Council (ASEC), one of more than a dozen
consumer organizations, business groups, and government
agencies hosting a free Investors' Town Meeting in
Bloomington on Monday, June 1.

     "Once people understand their financial goals, they can
begin to consider saving and investment products to match
them," said Arthur Levitt, Chairman of the U.S. Securities
and Exchange Commission.  Levitt will offer practical tips
at the town meeting on how to invest with confidence and
guard against costly mistakes.

     Other speakers will include Minnesota Commerce
Commissioner David Gruenes, U.S. Representatives Jim Ramstad
and Bruce Vento, and experts from the financial services
industry.

     A series of free investment seminars will immediately
follow the town meeting, including a session on retirement
planning presented by ASEC featuring the "Ballpark
Estimate."

     The "Ballpark Estimate" helps people determine annual
savings goals by simplifying complex calculations, such as
earnings assumptions and projected Social Security benefits,
into six easy math steps.

     For example, a 35 year-old working woman earning
$30,000 a year with $2,000 already invested in a retirement
account will find she needs to save roughly $143,000 to
retire at age 65 and maintain her current standard of
living.  Assuming a 3% rate of return after inflation, the
worksheet indicates that she should save $2,856 this year,
or about $110 every two weeks.  Financial experts say that
an automatic payroll deduction plan will make it easier to
save that amount.

     The Investors' Town Meeting will take place at the
Radisson South Hotel, Interstate 494 and Highway 100, at
4:00 p.m., followed by seminars at 6:00 p.m. and 7:00 p.m.
Doors will open at 3:00 p.m. so attendees can pick up the
"Ballpark Estimate" and other free investor education
materials.

     Admission is free, but reservations are recommended
because seating is limited.  To make reservations, call
(612) 257-7212.  Reservations can also be made by fax at
(202) 942-9634, or by e-mail at keyesa@sec.gov.


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