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Products November 19, 2009
ICMA-RC Offers Employee Education Campaign for Public Employers
November 19, 2009 (PLANSPONSOR.com) – In response to research indicating that city and state government employees are twice as likely to save for retirement when employers provide support, resources, and education, ICMA-RC has launched a new education campaign called "It Pays to Save."
Reported by Rebecca Moore
According to a press release, the campaign is designed to
broaden employer knowledge about saving trends among city and state government
employees and provide employers with the tools they need to improve
communication with those who are non-savers, and to simplify the enrollment and
retirement saving process.
ICMA-RC said it recently partnered with MB&A Market
Research to study the motivational behaviors that keep some public employees
from saving for retirement and found the average participation rate in 457
plans was 54% when employers were highly supportive and actively involved
versus 25% when employers were less engaged.
“Public sector employees at every level of income
become more interested in saving for retirement when their employer takes an
active role,” said Keith Sendall, ICMA-RC Senior Vice President of Field
Sales, in the press release. “Nearly all public employees who are saving
in 457 plans cited employer support as one of the main reasons why they
enrolled.”