Center For State & Local Government Excellence Announces New Financial Wellness Initiative And Grants
In an effort to improve financial wellness programs for the state and local workforce, a new initiative will provide financial resources, create tools and case studies, and facilitate conversations among state and local leaders. The effort comes as state and local government employees face increased financial challenges in the wake of the COVID-19 pandemic and resulting economic crisis. Even before the crisis, state and local governments were looking for ways to tackle the dual challenges of workforce financial literacy and public employee recruitment and retention.
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Funded by the Wells Fargo Foundation, the initiative is structured as a collaboration between the Center For State & Local Government Excellence (SLGE), The International Public Management Association For Human Resources (IPMA-HR) and the National Association Of State Treasurers’ Foundation (NASTF).
Building on recent financial wellness and literacy projects, these partners will collaborate on the following efforts over the next 18 months:
- Selecting state and local governments for competitive grants that will seed new financial wellness programs for their public workers.
- Developing research and briefing materials to help state and local governments establish their own financial literacy programs.
- Creating a case study learning center and materials that detail the varied approaches state and local governments’ past or potential financial wellness programs for employees and residents.
- Hosting conversations and meetings at NASTF and IPMA-HR conferences to bring together public leaders and experts to discuss how financial wellness programs can be implemented by state and local governments.
Additional details on the grants process and other programs will be announced soon.
“As COVID-19 continues to disrupt our society, municipal employees are on the front lines, keeping our cities and towns running. And even more important is the critical role they will play in our country’s economic recovery,” said Darlene Goins, head of Financial Health Philanthropy at Wells Fargo. “It’s more important than ever for government employees and their families to have access to financial wellness tools and resources that will help them navigate financial challenges now or in the future, reduce debt, save for retirement, or reach other financial goals.”
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