COVINGTON — Women in Kentucky could receive free financial and retirement planning under a program state treasurer Jonathan Miller hopes to start.

        The program is patterned after an initiative started two years ago in Ohio by state Treasurer Joe Deters of Hamilton County. Last year, more than 2,500 women in six cities, including Cincinnati, attended the free seminars to learn about retirement planning, saving money, credit and debt management, home ownership and insurance.

WOMEN LAG

Two years ago Ohio State Treasurer Joe Deters of Hamilton County began offering free financial-planning seminars to women because:     • Women earn about 70 cents for every dollar earned by men.     • In Ohio, the median income for women is about $18,000 — $13,000 less than the median income for men.     • 33 percent of women have pension plans, compared to 55 percent for men.     • On the average, women spend 15 percent of their career out of the paid work force to care for children or parents.     • Women live longer than men, creating a greater need for retirement planning.     • Two-thirds of Americans over 55 and living in poverty are women.     • 90 percent of women will be solely responsible for their finances at some point in their lives.

        During a presentation Wednesday morning at the Covington Community Center, Mr. Deters said he geared the program toward women because they are more likely to be single parents, more likely to drop out of the work force and more likely to earn less money than men.

        “Women tend to confront a far more unforgiving financial landscape than do men,” Mr. Deters told members of the Kentucky Commission of Personal Savings and Investment.

        Mr. Miller formed the commission in July to determine how the state can help Kentucky residents.

        “I travel throughout the state and more and more I've been hearing questions from women about how they can pay for their children's college education, how much money they should be saving, how much insurance should they have, can they afford to buy a home,” Mr. Miller said.

        “We can look across the river to Ohio and see how the state and, specifically, the treasurer's office is helping women find the answers to these and other questions.”

        Members of the commission include state lawmakers; state banking and insurance regulators; representatives from the Kentucky Commission on Women; union leaders; bankers and investment specialists; social workers, and consumer advocates.

        The panel will hold more hearings around the state over the next several months to gather more information.

        “We need to raise the awareness among women through education and community outreach efforts,” said commission member state Rep. Susan Westrom, D-Lexington.

        In Ohio, the day-long seminars are held on college campuses. They are free, with the cost underwritten by financial institutions and investment companies, Mr. Deters said.

        West Chester resident Donna Harger-Brown, 45, a single parent and a supervisor with the Ohio Department of Mental Health, has taken the Ohio seminar the last two summers.

        “I have gained much from my experience,” she said Wednesday. “I was able to develop and implement a one-year plan to purchase a new condominium for myself, and have also opened an IRA for my retirement planning.”

        More information, including the 2002 seminar schedule (when announced), is available by signing up for a monthly newsletter from Mr. Deters. Those interested can sign up over the Internet at www.joedeterscommonsense.org, or by calling 1-800-228-1102.

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