Washington, DC, Jan 13, 2022 (GLOBE NEWSWIRE) – As many public sector employees face growing financial challenges amid an epidemic of high inflation, 24 public employers are using innovative approaches to improve the financial health of their workforce and families. : The new series of Financial Wellness Fact Sheets released today provides basic knowledge և best practices that other state և local authorities can adjust և to help employees reduce debt, save for retirement or achieve other financial goals.

The Financial Wellness Fact Sheets highlight the results of a one-year initiative that provided a $ 1.4 million grant to the authorities to establish or improve public health financial programs. These efforts are part of the MissionSquare Research Institute, which is partnered with the International Association for Public Management of Human Resources (IPMA-HR) and the State Treasury Fund (NASTF) with funding from the Wells Fargo Foundation.

Each factsheet provides a summary of the jurisdiction approach, results, lessons learned, and future plans. In addition, leaflets provide ideas, tips, and networking opportunities for other public employers looking into financial health plans. Learn how public service employers use innovative approaches to engaging employees to improve the financial health of their workforce. Financial health information leaflets are also available on the interactive map.

“It is encouraging to see a wide range of innovative programs under the grant program to improve the financial well-being of the public workforce,” said Rivka Liss-Johnson, PhD, Senior Research Manager, MissionSquare Research Institute. series of newspapers. “Well-designed financial health programs are beneficial to employees, especially when governments are struggling to recruit and retain employees.”

“We know that financial well-being can lead to more productive employees, improve morale, reduce absenteeism, reduce burnout, and reduce health care costs. We hope that the Financial Health Documents will provide insights for managers who are researching programs for their employees. “Ultimately, these programs improve the ability of employees to provide vital public services.”

Recent research by the institute shows that the vast majority of government և local employees are concerned about their personal finances և financial decisions և they are on fire. Research also shows that few public employers currently offer financial health plans, but employees want those plans because they think they are possible.

The following public sector employers have been selected for the grant program: Central Carolina Community College, NC; City of Allen, Texas; City of Cleveland, Oh; City of Columbus, Oh; City Elizabeth City, NC; Moreno Valley, California; Peoria City, AZ; City of Ridgefield, Washington; City Roanoke, VA; City of Western Columbia, SC; Economic Empowerment Trust, Massachusetts Treasury Office; Maine Financial Authority; Columbia Regional Government; Iowa Insurance Department; Lewis և Clark County, MT; Milwaukee County Transit System, WI; Montgomery County Intermediate Unit, PA; Nebraska State Treasury Office; Illinois Treasurer’s Office; Pennsylvania Treasury; San Diego County Water Department, California; Wisconsin Աշխատ Employee Trust Funds և Financial Institutions Department; Victor City, New York; համալս University of the Virgin Islands.

The partnership also included the development of financial health tools. These resources include: A number of reference materials և guides on organizing virtual և in-person financial health conferences / meetings. Adjustable speaker financial health toolkit; մարդ Census of existing public financial health և educational programs. All of these materials are available here. In-depth case studies of the five grantee programs will be available in the coming weeks.

MissionSquare Research Institute promotes excellence in state և local government այլ other public service organizations to attract and retain talented employees. The organization identifies best practices և conducts research on pension programs, health ների health benefits, workforce demographics և skills needs, workforce development ության non-profit industry և education. The MissionSquare Research Institute brings together leaders and respected researchers. More information և research և publications available here.

        

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