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
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