By Bob Schultze

At ICMA-RC, our mission is clear: We help public sector employees build retirement security. But the question does come up: How do we deliver on our mission?

ICMA-RC’s RealizeRetirement® approach describes how we work with plan sponsors and participants to fulfill our mission of building retirement security. RealizeRetirement is all about building better outcomes for our clients through three components: engage, build, and realize.

Engage

We engage participants through a combination of education outreach efforts, including one-on-one consultations and group seminars with field representatives, and interactive technology. Such efforts ensure we are reaching public sector employees when and where they can best be served.

Knowing that public sector employees often do not work a traditional nine-to-five workday or sit in an office all day, we engage them when it may be most convenient for them—whether it’s at a midnight roll call or a shift change at the bus lot.

We also engage public sector employees through their communication channel of choice. Increasingly, this is via mobile technology. One example is the simple way in which employees can enroll in their plan—with a few clicks on their smartphone.

Other examples include such interactive digital resources as the many calculators and educational videos available on both the ICMA-RC website and the new YouTube channel, http://www.icmarc.org.

Build

We help public sector employees build toward their retirement dreams, taking into account the specific circumstances and factors that are unique to them, including pension from a defined-benefit plan, 457 plan assets, any employer match, Social Security, and younger retirement ages.

Our complementary resources include local professionals, technology, and advisory services to help participants learn to maximize their deferred-compensation programs. Our Guided Pathways® program offers three levels of investment advisory services available to participants. We also make a comprehensive lineup of financial planning services available to help participants develop and implement a plan that encompasses their multiple financial goals.

Retirement Security Builder, a popular tool, helps participants develop a personalized retirement savings strategy and calculate the after-tax effect of various contributions on their net pay.

Another example is the “Am I On Track?” tool that helps participants see the probability of achieving their retirement savings goals.

Realize

Ultimately, ICMA-RC works with participants to help them realize their retirement as they near and transition into it. Public sector employees will spend, on average, 20 or more years in retirement. That’s why it is critical that ICMA-RC is there for local and state government employees not just to their retirement—but through—retirement.

The transition from saving assets to sustaining assets can be challenging for many who are nearing retirement. We help participants better understand their spending habits in retirement, the role of Social Security, and how to handle their required minimum distributions.

We also educate them about how to invest during retirement in order to sustain their standard of living and fully realize their retirement goals.

Our Retiree Premier Services program helps participants continue to focus on managing their retirement, with professional guidance on investing and taking withdrawals; custom tips based on age; personalized account statements; and more.

Our in-depth CERTIFIED FINANCIAL PLANNING™ services help participants to further focus on strategies for achieving their financial goals.

ICMA-RC’s RealizeRetirement approach helps us deliver on our mission and reinforces our commitment to helping close to a million public sector employees build a secure retirement. Visit http://www.icmarc.org/realize for additional information, tools, and resources.