by Amy Elsbree

This week, marks the commemoration of National Save for Retirement Week, the first in America?s history established to elevate public knowledge about retirement savings and to encourage employees to save in their employer-sponsored plans.

For local governments, the week offers the opportunity to work with their citizens and their own employees to focus on their personal savings plans and the importance of planning for their futures.

?Cities are strong when their citizens are strong,? said Donald J. Borut, executive director of NLC. ?We want to make sure the workers in our cities have the knowledge and tools to continue to be active, contributing members of our communities, even in retirement. And that means not having to worry about whether their savings will be enough to carry them through.?

Al McKenzie, human resources director for the City of Wilmington, N.C., stresses that helping city workers plan for their financial future brings great returns to the city as an employer.

?Many city workers start out thinking their job with the city is just a short-term thing,? McKenzie said. ?But if we can help them see the value of planning a solid financial future via a career with the city and a city-provided savings plan, then we will have a more dedicated work force and folks who are better prepared when retirement comes.?

National Save for Retirement Week was proclaimed by a resolution sponsored by Sens. Gordon Smith (R-Ore.), chairman of the Senate?s Special Committee on Aging, and Ken Conrad (D-N.D.). The resolution passed unanimously in the Senate on Sept. 13.

ICMA-RC, a financial services firm that serves public sector employees and an NLC corporate partner, has launched a National Save for Retirement Week website, www.icmarc.org/save4retirement, which centers on what local government employers can do to encourage their employees to save for retirement.

The website includes ideas for several different programs and activities to do during the week, education fact sheets, brochures and a proclamation that city councils can use to commemorate the week.

According to the results of a survey conducted for ICMA-RC that was released last week, four out of five public sector workers participating in tax deferred savings plans don?t believe their pensions will be enough to maintain a desired standard of living when they retire. Only two-thirds believe that even with accumulated savings of their own, they will be able to maintain a desired standard of living.

?The survey results are a call to action for America?s workers to save more for retirement,? said Joan McCallen, president and CEO of ICMA-RC. ?Even public sector employees who are already boosting their retirement savings through supplemental savings plans can and should do more to build their retirement security.?