The Future of Public DC Programs Includes a Focus on Financial Wellness
There is a movement among private-sector employers to offer not just a retirement plan, but a program of benefits that addresses all aspects of employees’ finances. But employees in the public sector—including those in public defined contribution (DC) plans—need holistic financial wellness help, too. Less than half of public-sector employees (43%) feel very/extremely confident making financial decisions on their own, according to the results of a 2019 study by the Center for State and Local Government Excellence (SLGE). Fifty-four percent...
