Empower Examines Savings Behavior of Government Workers Revealing Compelling Insights
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Thursday, May 5, 2022
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Government employees saving in Empowers workplace retirement plans steadily increased savings rates during the pandemic compared to two years ago and more government employees contributed to those plans.
Key Points:
- Government employees saving in Empowers workplace retirement plans steadily increased savings rates during the pandemic compared to two years ago and more government employees contributed to those plans.
- An analysis of the savings behavior of 1.55 million active state and local defined contribution (DC) participants with Empower as the recordkeeper provides a comprehensive view of state and local government employees DC savings behavior and retirement preparedness.
- Its critical that both state and local government workers understand their future expected retirement income as their pension plans may not fully meet their needs in retirement.
- The Empower analysis Empowering Americas Financial Journey, explores how this segment of American workers are:
Remaining resilient during the pandemic and uncertain economic conditions.