Symetra to Sponsor $100,000 Purpose Prize for Future Promise
Purpose Prize Program Recognizes Individuals Pursuing Encore Careers for Social Impact
SAN FRANCISCO & BELLEVUE, Wash.--(BUSINESS WIRE)-- Encore.org, a nonprofit organization working to engage millions of boomers in encore careers that improve the lives of others, announced today that Symetra will sponsor the $100,000 Purpose Prize for Future Promise in 2013.
The Purpose Prize honors individuals who demonstrate extraordinary achievement and commitment to bettering society. Now in its eighth year, the Purpose Prize is the country's only large-scale investment in people over 60 who are combining their passion and experience for social good in encore careers. Since its inception in 2006, the program has awarded 78 people with cash prizes of up to $100,000.
The Purpose Prize® for Future Promise, sponsored by Symetra, will recognize an individual whose approach for helping society has the potential to grow steadily over the next five years. Encore.org will present another $100,000 prize and several smaller monetary awards to other creative problem-solvers addressing society's most pressing challenges.
"We're honored to be a part of the national Purpose Prize program and to support the altruistic work of social entrepreneurs in their encore careers," said Dan Guilbert, executive vice president of Symetra's Retirement Division. "For Symetra, the concept of 'future promise' fits with who we are as a company. Through our retirement and life insurance products, we make and keep promises for our customers — helping them achieve financial and personal enrichment. The Purpose Prize honors those who contribute their time and talents for the enrichment of society."
"We salute Symetra's vision and generosity in partnering with Encore.org and supporting the Purpose Prize. Symetra stands out as a creative community and business leader in the life insurance field. We look forward to working with Symetra to recognize the 2013 Purpose Prize awardees and their impact in society," said Marc Freedman, founder and CEO of Encore.org.
According to Encore.org, the statistics around individuals pursuing a second career act are compelling:
More than nine million people ages 44 to 70 are already in encore careers that combine personal meaning, continued income and social impact, and an additional 31 million are interested in joining their ranks. Together, those currently in encore careers and those interested in encore careers represent 40 percent — or two in five — of all Americans ages 44 to 70.
Approximately 25 million people — one in four Americans ages 44 to 70 — are interested in starting businesses or nonprofit ventures in the next five to 10 years. More than 12 million of these aspiring entrepreneurs want to be encore entrepreneurs, making a positive social impact as well as a living.
The Purpose Prize program is funded by the John Templeton Foundation and The Atlantic Philanthropies. A panel of judges — leaders in business, politics, journalism and the nonprofit sector — will select the 2013 winners from more than 900 submitted nominations. The awardees will be announced in late 2013. For more information about The Purpose Prize and the selection process, visit www.encore.org/prize.
About Encore.org (www.encore.org)
Encore.org is a national nonprofit that promotes the idea that people in their second acts have the talent and experience to solve some of society's greatest problems. The Purpose Prize is a program of Encore.org.
Symetra Financial Corporation (NYS: SYA) is a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
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