Empowering Public Employees for Retirement Security: Evidence from a Pre-Retirement Financial Education Program

The United States is facing a retirement crisis, with eight in ten older adult households experiencing or at risk of financial insecurity (Tavares et al., 2024). National data shows 60% of Americans regularly contribute to retirement accounts, and just 40% have estimated their retirement savings needs (Lin et al., 2022). With approximately 5,900 Baby Boomers retiring daily (Fry, 2019), there is considerable interest in identifying effective strategies and policies to address retirement preparedness. This paper presents evaluation findings from a retirement planning financial education program delivered to 750 public employees by Iowa’s public employee retirement system and Cooperative Extension educators. Offered both in-person and online, the program aimed to improve financial knowledge, encourage engagement in pre-retirement planning activities, and reduce financial stress while boosting confidence. Quantitative and qualitative results highlight increased understanding of key retirement topics, high participant satisfaction, and the value of timely, relevant education delivered through strategic partnerships. The program’s success is attributed to Cooperative Extension best practices – skilled educators, strategic partnerships, and continuous evaluation. The study findings are discussed in relation to their implications for Extension professionals.