With schools facing unprecedented challenges in the wake of the COVID-19 pandemic, the Center for State and Local Government Excellence (SLGE) and ICMA-RC have released new research that assesses K-12 public school employees’ views on their job and benefit satisfaction, familiarity with mutual funds and annuities, sources of financial information, debt, and school diversity.
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The research, Survey Findings: K-12 Public School Employee Views on Job and Benefits, is available here.
The survey results indicate that the K-12 public school workforce is passionate about their profession, especially the ability to serve the community and their job security. However, the research suggests that if significant cuts were made to their salary or benefits, many educators would leave their jobs. The research also reveals that many public school employees would like more information about their retirement benefits and retirement planning, especially when it comes to managing their investments.
“While K-12 public school employees have always been integral to educating and inspiring our nation’s youth, the COVID-19 pandemic has amplified recognition of their importance,” said Rivka Liss-Levinson, PhD, SLGE director of research and report author. “To recruit and retain top talent as the economic effects of the pandemic unfold, schools will need to consider the importance K-12 public school workers place on their job security, salary, and benefits. We hope this research provides policymakers with valuable information as they make critical workforce decisions that will have long-lasting impacts,” she explained.
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“The research indicates that 70 percent of K-12 employees are either somewhat or not very confident when it comes to making retirement plan decisions on their own,” says Bruce Corcoran, ICMA-RC managing vice president, head of education, healthcare and not-for-profit business. “This study reinforces the opportunity for better and more engaging education for K-12 employees, giving them the ability to make informed decision as they save and work towards their well-deserved retirement.”
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