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ICMA-RC Enhances and Expands Financial Planning Services to Reach More Working and Retired Participants

August 6, 2020

ICMA-RC announced that it has enhanced its Guided Pathways® Services program by expanding its financial planning and consultation services to better meet the needs of more working and retired participants. This enhancement will expand the availability of ICMA-RC CERTIFIED FINANCIAL PLANNER™ professionals to offer participants a variety of virtual sessions. The vision for the program's expansion is driven by virtual CFP® consultations focused on the whole household and through a deeper, more comprehensive view of participants' and their families' overall financial wellness, without the limitations of worksite consultations.

According to a June 2020 COVID-19 research brief by the Center for State and Local Government Excellence and sponsored by ICMA-RC, only 23% of public sector respondents currently work with a financial professional, and 53% strongly or somewhat agree they can get the help needed to make smart financial decisions during the pandemic. By virtually expanding the availability of CFP® professionals, ICMA-RC will add convenience to allow for greater coverage across time zones and the ability to engage with participants at times and locations that work best for them. This expansion also allows the company to establish stronger connections with participants by providing the option of having a spouse or significant others participate during planning sessions.

“ICMA-RC is always looking for innovative ways to support our clients, especially during times like we are facing today, when clients need more help than ever before," said Lynne Ford, CEO and President of ICMA-RC. "This expanded service offering to meet our clients where they are will allow us to strengthen our relationships with both working participants and retirees by providing them with more targeted and comprehensive financial planning guidance they may have otherwise missed out on in the past."

ICMA-RC will proactively engage participants and retirees directly, ensuring awareness about the company's increased ability to serve them wherever they are. Participants with balances that exceed a certain threshold will be able to quickly and easily sign up for CFP® consultations via phone, online, email or mobile device and all participants will have access to national webinars on various topics.

"The feedback from our clients has been overwhelmingly positive as we've leveraged lessons learned and pivoted quickly to meet their needs and work with them in an expanded environment," said Orlando Cruz, Senior Vice President of ICMA-RC. "The ability to deliver comprehensive financial planning services by a CERTIFIED FINANCIAL PLANNER™ professional unconstrained by geography or time zones has allowed us to provide a greater number of employees and retirees with retirement planning, advice, and guidance when and how they want to aid in reaching their retirement goals."

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