Employer Bulletin: Your Plan Administration Resource

Research: COVID-19 Public Employee Impacts by Career Stage

The Center for State and Local Government Excellence at ICMA-RC (SLGE at ICMA-RC) has conducted two COVID-19 surveys charting the initial and later impacts of the pandemic on state and local government employees’ work, safety, and finances. The surveys concluded that early- and mid-career state and local government workers have been more concerned about current and future finances due to the pandemic than their late/encore-career peers. Data from the surveys was compiled into an infographic and revealed that:

  • Almost two-thirds of state and local government employees in early- and mid-career stated that debt is currently a problem compared to half of those in late/encore-career.
  • Early-career workers were three times more likely to consider changing jobs due to the pandemic than their late-career counterparts.
  • Early- (44%) and mid-career (41%) workers were most concerned about saving enough to be financially secure throughout retirement, while late/encore-career workers (30%) were the least concerned.

Learn more by accessing this infographic.

While the financial and emotional impact of the pandemic may differ based by career stages, ICMA-RC’s mission is to provide all participants with the tools and resources needed to help educate them about strategies for saving long term at all stages of their career. For example, in the April edition of the RealizeRetirement® Monthly e-newsletter for participants, we highlight National Financial Literacy Month, with a focus on overall financial wellness and available resources. Our commitment to assisting your employees throughout every step of their savings journey is also reflected in our themed 2021 Strategic Communications and Financial Education module, in which we deliver communications via various channels.

Founded in 2007 with financial support from ICMA-RC, SLGE at ICMA-RC has published more than 150 research reports on such topics as pension funding, health benefits, and compensation and workforce trends in state and local governments. Learn more about SLGE at ICMA-RC at www.slge.org or visit them on Twitter: @4GovtExcellence.