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As public sector workers report increased financial challenges in the wake of the ongoing pandemic, a new series of financial wellness case studies provides state and local government employers with key learnings and promising practices to help workers reduce debt, save for retirement, and reach other financial goals. This research comes as state and local employers struggle to attract and retain employees amid the Great Resignation.
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Case Studies of Innovative Public Sector Employee Financial Wellness Programs highlights the results of five jurisdictions that participated in a one-year initiative that awarded $1.4 million in grants to 24 jurisdictions to establish or improve public employee financial wellness programs. This research is part of a MissionSquare Research Institute collaboration with the International Public Management Association For Human Resources (IPMA-HR) and the National Association of State Treasurers Foundation (NASTF), with the support of the Wells Fargo Foundation.
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“These five case studies highlight a range of approaches states and localities have taken, or could take, in implementing effective financial wellness programs for their employees,” said Joshua Franzel, Ph.D., MissionSquare Research Institute Managing Director. “They are offered at a time when many public employees are under financial pressure and are considering jobs changes in the wake of the pandemic. Implementing meaningful financial wellness programs can be a key tool for public employers as they focus on developing a productive workforce that is financially secure.”
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