Industry News

On June 5, 2025, the MissionSquare Research Institute released its report, What Helps Public Sector Workers Feel Ready for Retirement: An In-Depth Study by Job Tenure and Other Factors. The Institute researched the retirement readiness among public sector employees that comprises both financial and psychological preparedness.

The Research Institute partnered with Greenwald Research to survey over 1,000 full-time state and local government workers. The results of the survey were analyzed in the context of workforce demographics, retirement preparedness, and challenges facing public sector employees in achieving financial security.

According to the report, financial concerns vary significantly by tenure. About 80% of full-time state and local government employees are concerned about having sufficient funds throughout retirement. Those with 20 or more years of service are less concerned about having emergency savings, the ability to retire on time, and overall costs of living in retirement as compared to those less tenured.  

Based on their research, the key findings include:  

• About 77% of employees with less than 10 years of service are concerned about emergency savings compared to 71% of those with 10 to 19 years of service and 64% with 20 or more years of service;
• Of employees with less than 10 years of service, about 77% are worried about their ability to retire on time as compared to 74% of those with 10 to 19 years of service and 63% with 20 or more years of service;
• 65% of employees are interested in financial education provided by their employers; and
• The majority of employees are interested in understanding how much they should save for retirement as well as the tax implications of their retirement plans.

The report concludes: “A well-prepared and financially secure workforce is essential for maintaining high levels of productivity and morale, ultimately benefiting both employees and employers alike. Collaborative efforts between policy-makers and employers can create a more stable and attractive public sector employment landscape.”

The report is available here.