A guaranteed pension has been the cornerstone of public sector employment for decades. But, that’s changing.
Many employees are not prepared for this new reality, which may significantly impact public sector employees and employers alike. Employees who fail to take steps today are unlikely to achieve their financial goals tomorrow.
Meanwhile, employers hoping to compete with the private sector for top talent are likely to struggle unless they are able to clearly articulate how they are helping their workers achieve their financial aspirations. Also, public sector employers owe it to their employees and taxpayers to help ensure public sector workers reach retirement prepared.
To help better understand these challenges and how to address them, Prudential Retirement® sponsored a survey of more than 1,800 public sector workers.1