Public employers play a crucial role in nurturing a resilient workforce. Financial stress among employees not only affects individual well-being, it can also impair service delivery to the public. Below are real-world examples showcasing how government agencies have successfully implemented financial literacy programs.

The VA runs the Retirement and Financial Literacy Education Program (RFLEP), offering federal employees workshops, online tools, retirement planning materials, budgeting support and financial fairs. This program emphasizes lifelong learning and assists employees and their families in making well-informed financial decisions.  

USGS provides a variety of federal financial resources, including guidance on the Thrift Savings Plan (TSP), retirement system tutorials for federal and civil service employees (FERS and CSRS), the Ballpark Estimate savings calculator, and links to the federal financial education portal myMoney.gov. These centralized resources help employees across departments manage retirement contributions and investment decisions.  

The Illinois Financial Wellness hub delivers interactive, tailored financial education for state employees. Topics include emergency savings, debt management, homebuying, retirement planning, investing, and estate planning. This initiative was funded through a statewide grant supporting public sector financial wellness.  

In 2020, MissionSquare and partners awarded 24 grants to public agencies to develop financial wellness programs. Beneficiaries included:

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  San Diego County Water Authority

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  Pennsylvania Treasury

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  Milwaukee County Transit System

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  City of Cleveland, Ohio  
  

These programs featured customized solutions including counseling, budgeting tools, retirement planning seminars and tailored outreach to diverse employee groups.  

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  Stress reduction and productivity: VA employees report improved focus after participating in RFLEP workshops, lowering absenteeism and morale loss.  

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  Informed retirement planning: Tools like the TSP calculators and Ballpark Estimate empower employees to prepare for retirement through disciplined savings.  

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  Accessible and inclusive learning: Illinois’s Financial Wellness hub offers specialized modules for different financial goals and life stages, ensuring comprehensive and personalized learning.  

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  Public sector tailoring: MissionSquare’s grantees are implementing programs suited to their local workforce, leading to higher engagement and community impact.  

These government-led initiatives illustrate the transformative power of financial literacy, including:

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  Improved employee well-being through reduced financial anxiety

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  Enhanced organizational effectiveness via a more engaged and stable workforce

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  Broader social benefits as financially secure employees better serve the public