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."

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.”

More information about the educational campaign is at www.icmarc.org/savers.