WASHINGTON, Aug. 28, 2017 /PRNewswire/ -- Convincing local and state government employees to save for retirement is one of the toughest jobs a public sector plan sponsor faces. During the past year, public sector retirement service provider ICMA-RC created a dynamic new way to get local and state government employees to sign up for their retirement plans. The RealizeRetirement® Tour vehicle, loaded with interactive technology, was sent to over 200 locations in 22 states. More than 20,000 public sector employees experienced the Tour which included a virtual reality experience focused on public sector service to communities, a My Retirement Animated future-self animation program, a "world travel" selfie station and a digital prize wheel. One of the key aspects of the tour was that participants could meet with local ICMA-RC representatives about their retirement savings plans.
While the goal was to raise awareness of the importance of saving for retirement, the results* dramatically exceeded goals:
86% of tour attendees reported that they would recommend the tour to others
47% were more likely to be engaged in retirement saving
Significantly, there was a 10% overall 457 enrollment increase at plan sponsors where the RealizeRetirement Tour stopped**
"Our goal was to provide innovative and engaging education to public sector employees we serve and to help them understand the importance of saving for tomorrow," said ICMA-RC President and CEO, Bob Schultze. "We focus our resources where they will have the most benefit for local and state government employees, and going directly to participants' places of employment in the communities they serve was key to the success of the program." The recently completed Tour was originally scheduled to run for just six months from June to December 2016 but the Tour was extended twice based on plan sponsor demand and participant feedback. ICMA-RC plans to launch a new and engaging RealizeRetirement Tour "sequel" in September based on the success of the original Tour and continued interest from public sector plan sponsors.
*Tour survey results 1/1/17- 8/10/17 **Two month period immediately following Tour stop
About ICMA-RC Founded in 1972, ICMA-RC is a non-profit independent financial services corporation with $52 billion in assets under management and administration (as of June 30, 2017) focused on providing retirement plans and related services for over a million public sector participant accounts. ICMA-RC's mission is to help build retirement security for local and state government employees. The organization's mission is delivered through its RealizeRetirement® approach in which ICMA-RC representatives actively engage participants in their retirement programs, help them build their asset base, and help them realize their retirement goals through a comprehensive retirement planning strategy. For more information, visit www.icmarc.org or follow ICMA-RC on Facebook, LinkedIn and Twitter.