By Kathryn Kretschmer-Weyland
January 12, 2009

Spurred by the stunning statistic that 61 percent of households are at risk of being unable to maintain their standard of living in retirement, the United States Conference of Mayors (USCM) took steps to tackle the issue head-on through its 2008 Save for Retirement Initiative. This groundbreaking program was launched in the spring of 2008 in collaboration with platinum partner Nationwide Retirement Solutions (NRS) and was supported by an award-winning educational tool-kit that armed mayors with turnkey ideas and materials to promote the importance and benefits of saving for retirement. The initiative culminated during National Save for Retirement Week, October 19-25, during which cities large and small hosted successful and well attended educational seminars, expos and workshops, and attended events where municipal employees were able to learn more about the benefits and availability of deferred compensation programs.

“The results from our participating cities have exceeded all expectations,” said CEO and USCM Executive Director Tom Cochran. “Our mayors really stepped up and demonstrated the importance they place on helping their employees plan for a financially secure retirement. We were thrilled with the level of participation in 2008, and hope that the success stories from the programs will serve as encouragement for more cities to participate in 2009. This has been a great start to a very valuable program.”

USCM and NRS leveraged the National Save for Retirement Week program created by the National Association of Government Defined Contribution Administrators (NAGDCA), a nonprofit organization of state and local government administrators, as well as private sector companies that service and support retirement plans for public employees. NAGDCA recently honored USCM for its successful efforts with in promoting NRS with mayors across the country.

It began with a pledge

Over 150 mayors from across the U.S. signed the 2008 Save for Retirement Initiative pledge, committing themselves and their city to promoting the importance and benefits of participating in deferred compensation plans. To support these efforts, USCM with NRS created a toolkit of ideas and materials to help local mayors:

• Promote the importance and benefits of saving for retirement
• Promote city'sanctioned informational workshops for employees
• Commit to promoting city defined contribution retirement plan as a valuable benefit within the city’s total compensation package.

The following mayor’s signed the 2008 Pledge:

Akron ((OH)) Donald Plusquellic
Albany (NY) Gerald Jennings
Albuquerque (NM) Martin Chavez
Alexandria (VA) Bill Euille
Arlington (TX) Robert Cluck, M.D.
Arlington Heights (IL) Arlene Mulder
Asheville (NC) Terry Bellamy
Athens (GA) Heidi Davison
Atlanta (GA) Shirley Franklin
Avondale (AZ) Marie Lopez Rogers
Babylon (NY) Steve Bellone
Baltimore (MD) Sheila Dixon
Bartlett (IL) Catherine Melchert
Beavercreek (OH) Julie Vann
Beverly Hills (CA) Barry Brucker
Bowling Green (KY) Elaine Walker
Bridgeport (CT) Bill Finch
Brookfield (WI) Jeff Speaker
Brooklyn (OH) Ken Patton
Burnsville (MN) Elizabeth Kautz
Camden (NJ) Gwendolyn Faison
Campbell (CA) Donald Burr
Canton (OH) William Healy, II
Carmel (IN) James Brainard
Carpentersville (IL) Bill Sarto
Cerritos (CA) Jim Edwards
Chandler (AZ) Boyd Dunn
Charleston (WV) Danny Jones
Charleston (SC) Joseph Riley
Chattanooga (TN) Ron Littlefield
Chester (PA) Wendell Butler
Cincinnati (OH) Mark Mallory
Clifton (NJ) Jim Anzaldi
College Station (TX) Ben White
Columbia (MO) Darwin Hindman
Columbus (OH) Michael Coleman
Coral Gables (FL) Don Slesnick
Coral Springs (FL) Scott Brook
Cuyahoga Falls (OH) Don Robart
Dayton (OH) Rhine McLin
Des Moines (IA) Frank Cownie
Doral (FL) Juan Carlos Bermudez
Dover (DE) Carleton Carey
Duncanville (TX) David Green
East Orange (NJ) Robert Bowser
East Point (GA) Joseph Macon
East St. Louis (IL) Alvin Parks
Euless (TX) Mary Lib Saleh
Fayetteville (AR) Dan Coody
Frankfort (KY) William May
Freeport (NY) Bill Glacken
Ft. Pierce (FL) Bob Benton
Garfield Heights (OH) Thomas Longo
Germantown (TN) Sharon Goldsworthy
Goodyear (AZ) James Cavanaugh
Greenfield (MA) Christine Forgey
Greenville (MS) Heather Hudson
Hallandale Beach (FL) Joy Cooper
Hempstead (NY) Wayne Hall
Hoffman Estates (IL) William McLeod
Homestead (FL) Lynda Bell
Honolulu (HI) Mufi Hannemann
Hope (NJ) Tim McDonough
Irvington (NJ) Wayne Smith
Kearny (NJ) Alberto Santos
Key West (FL) Morgan McPherson
Lake Oswego OR Judie Hammerstad
LaMesa (CA) Art Madrid
Laredo (TX) Raul Salinas
Lauderhill (FL) Richard Kaplan
Lewiston ME Laurent Gilbert, Sr.
Little Rock (AR) Mark Stodola
Los Angeles (CA) Antonio Villaraigosa
Louisville (KY) Jerry Abramson
Manhattan Beach (CA) Richard Montgomery
McKinney (TX) Bill Whitfield
Memphis (TN) Dr. Willie Herenton
Merced (CA) Ellie Wooten
Meridian (MS) John Robert Smith
Miami (FL) Manuel Diaz
Miami Beach (FL) Matti H. Bower
Miami Lakes (FL) Wayne Slaton
Middleburg Heights (OH) Gary Starr
Minneapolis (MN) R. T. Rybak
Monticello (IN) Jason Thompson
Murray (UT) Daniel Snarr
Myrtle Beach (SC) John Rhodes
New Berlin (WI) Jack Chiovatero
New Orleans (LA) C. Ray Nagin
Normal (IL) Chris Koos
North Chicago (IL) Leon Rockingham
North Little Rock (AR) Patrick Henry Hays
North Miami Beach (FL) Kevin Burns
O-Fallon (IL) Gary Graham
Oklahoma City (OK) Mick Cornett
Palatine (IL) Rita Mullins
Pembroke Pines (FL) Frank Ortis
Philadelphia (PA) Michael Nutter
Pinellas Park (FL) Bill Mischler
Piscataway (NJ) Brian Wahler
Pocatello (ID) Roger Chase
Port Arthur (TX) Deloris Prince
Portsmouth (VA) James Holley
Providence (RI) David N. Cicilline
Provo (UT) Lewis Billings
Renton (WA) Denis Law
Rialto (CA) Grace Vargas
Rochester (MN) Ardell Brede
Rochester (NY) Robert Duffy
San Gabriel (CA) Harry Baldwin
San Rafael (CA) Albert Boro
Santa Cruz (CA) Ryan Coonerty
Santa Fe (NM) David Coss
Schenectady (NY) Brian Stratton
Seattle (WA) Greg Nickels
Shawnee (KS) Jeff Meyers
Shreveport (LA) Cedric Glover
Solon (OH) Kevin Patton
South San Francisco (CA) Pedro Gonzalez
Southfield (MI) Brenda Lawrence
Spring Valley (NY) George Darden
St. Louis (MO) Francis Slay
Stamford (CT) Dan Malloy
Stratford (CT) James Miron
Surprise (AZ) Lyn Truitt
Tallahassee (FL) John Marks
Trenton (NJ) Douglas Palmer
Tulsa (OK) Kathy Taylor
Valdosta (GA) John Fretti
Virginia Beach (VA) Meyera Oberndorf
Vista (CA) Morris Vance
Walnut Creek (CA) Gwen Regalia
Walton Hills (OH) Marlene Anielski
Warren (OH) Michael J. O'Brien
Warwick (RI) Scott Avedisian
West Columbia (SC) Bobby Horton
West Hollywood (CA) Jeffrey Prang
West New York (NJ) Silverio Vega
West Palm Beach (FL) Lois Frankel
Westlake (OH) Dennis Clough
Westmont (IL) William Rahn
Wichita (KS) Carl Brewer
Wilmington (DE) James Baker
York (PA) John S. Brenner

Best Practices: the results speak for themselves

Cities shared some of the best practices instituted over the past year, starting with cities that provided activities in brief, followed by cities that supplied more in-depth reports on save for retirement initiatives.

City Briefs: Large and small, cities took steps to promote saving:

• Arlington Heights (IL) Mayor Arlene J. Mulder issued a proclamation declaring October 19 to 25, 2008 National Save for Retirement Week within her city.
• Coral Springs (FL) Mayor Scott J. Brook and the City Commission proclaimed October 19-25, 2008 National Save for Retirement Week within the city.
• Florence (AL) Mayor Bobby Irons issued a proclamation declaring October 19 to 25, 2008 Save for Retirement Week in his city and held educational workshops for the employees. Employees were encouraged to learn more about their retirement options.
• NRS Specialist Conny Guilleaume hosted Fort Worth (TX) employees for account reviews and enrollment at locations throughout the city during the week.
• John Day (OR) Mayor Bob Quinton of set aside time for employees to attend educational workshops and one-on-one account reviews.
• York (PA) Mayor John S. Brenner signed the USCM Pledge and invited Nationwide Program Director Anthony Sebro to hold workshops on the state of the economy as well as saving for retirement.
• USCM also heard from representatives of the following cities: Vacaville (CA) Mayor Len Augustine, Palatine (IL) Mayor Rita Mullins, Gurnee (IL) Mayor Kristina Kovarik, and Lauderdale Lakes (FL) Mayor Barrington A. Russell, Sr., all of whom reported that their employees appreciated their city’s efforts to help them use deferred compensation to better prepare themselves for retirement.

City Case Studies: Pushing for Results:

Albuquerque educates city employees

Albuquerque (NM) Mayor Martin J. Chavez and Insurance & Benefits Manager Mark Saiz called their National Save for Retirement Week workshops a tremendous success, due in large part to the aggressive communications program that began weeks before. They posted flyers in all city buildings, ran newsletter articles, distributed tri-fold brochures, blasted email notices, and most importantly, used a letter from Chavez to highlight the importance of National Save for Retirement Week to employees. The city also held workshops that provided a wide range of retirement planning information, drawing over 100 attendees. Representatives from the city’s Insurance & Benefits Division, New Mexico Public Employee Retirement Association and all three deferred compensation providers were on hand to provide information and answer questions. The workshop and presentation provided at city hall was filmed and is available on the city’s Insurance & Benefits website.

Durham keeps the momentum going

Under the leadership of Durham (NC) Mayor William Bell, the city offers throughout the year retirement workshops for employees to provide information to help them make good retirement and savings decisions. In recognition of National Save for Retirement Week, the Human Resources Department ordered posters and flyers from the North Carolina Retirement System for distribution at various work sites and offices. The issued an all-employee email blast on October 16, 21 and 23 to remind employees of the need to save for retirement. A seminar held October 29 kept the momentum going and encourage employees to learn more about the North Carolina retirement system, vesting, purchasing service credits, planning for retirement, retiree benefits, savings and more. As a result of these efforts, the city received a considerable number of phone calls from employees interested in contributing to the 401(k) Plan who opted not to do so in the past.

Huntsville launches education over lunch

NRS Specialist Martha Dodd hosted a lunch-and-learn event for 38 employees of Huntsville (AL). In addition to addressing many questions about deferred compensation, Dodd welcomed Huntsville Fire and Rescue District Chief Ronnie Dodson, who enthusiastically gave his testimony about the importance of planning for retirement through the city’s deferred compensation plan. Encouraged by the results, Huntsville Mayor Tommy Battle plans to double the sessions next year to allow for even more employees to attend.

Los Angeles: Five reasons to participate; five days of events

Los Angeles (CA) Mayor Antonio Villariagosa signed the USCM’s pledge and provided city employees with a top five list of reasons to participate in the deferred compensation plan. The city also offered employees five days of on site events throughout the city. The city held morning and afternoon sessions every day at different locations throughout the city and local representatives were on hand to help city employees enroll, review their accounts and answer questions.

Memphis chases away pre-retirement blues

In downtown Memphis, over 500 individuals converged on the Cook Convention Center to participate in the first-ever joint retirement expo for Memphis and Shelby County employees. The event offered a variety of educational workshops on asset allocation, Social Security, current market conditions, and how to enroll in the plan. A team of NRS representatives, including Regional Vice President Dennis Blue and Program Director H. L. (Monty) Robinson Jr., were on hand to support the event, along with city and county officials. In attendance from Shelby County were Mayor A. C. Wharton, Jr.; James B Martin, Deputy Administrator of Employee Benefits, Retirement & Risk Management; and Waverly Seward, Manager of the Shelby County Retirement system. Memphis Chief Administrative Officer Keith McGee attended along side Memphis Mayor Dr. Willie W. Herenton, who had sent a letter encouraging department heads to promote both the event and saving for retirement. Herenton addressed employees at the expo saying, “In these ever changing financial times, it is important that people take a personal responsibility to plan for their retirement future. Deferred compensation is an effortless way to plan for tomorrow.”

Orlando Takes Control

Orlando Mayor Buddy Dyer signed a proclamation that declared save for retirement week in the city, and sent a message to every employee proudly announcing the city’s new Employee Financial Wellness Program: Take Control of Your Financial Future. Dyer provided each employee with tips to help achieve financial success and urged them to plan for their future by enrolling in the city’s deferred compensation plan.

Campagin in Phoenix Soars

More than 600 employees and retirees answered invitations from Phoenix Mayor Phil Gordon to participate in “Your Financial Future Starts Now” education expo. With the help of Nationwide Retirement Specialist Lisa Krieger and her team, attendees already enrolled in the city’s 457 deferred compensation plan were able to increase their contributions, check their asset allocations, rebalance their portfolios and update beneficiaries. During the expo, the city accepted ten new enrollments for voluntary contributions, 46 requests to increase contributions, 75 changes to asset allocations or to rebalance portfolios, and the 68 employees who needed more personal attention scheduled appointments to meet one-on-one with plan representatives. In addition, hundreds of employees attended one or more of the six educational workshops the city held throughout the expo on topics ranging from how to enroll to the state of the economy.

Stamford Sets the Pace

In addition to helping to spearhead the Conference’s national Save for Retirement campaign, in August of 2008, Stamford (CT) Mayor Dannel P. Malloy kicked off the city’s “Save for Retirement” campaign to help municipal employees prepare themselves for retirement by contributing to Stamford’s deferred compensation program. “Preparing for retirement is critically important, and key to successful planning is education,” Malloy said. “Even in these difficult economic times there are ways to put aside savings for retirement, if employees have the information they need to help them.” Malloy sent a letter to each city employee informing them of the new initiative and listing services that are available to help each person, regardless of their salary, accumulate a responsible portion of assets for retirement. With the assistance of Stamford’s Human Resources Department, Malloy set up a series of workshops and information sessions to give employees the tools they need to utilize the retirement savings programs. These meetings not only helped employees understand the importance of prudent saving, but also gave tangible tools and options to prepare for retirement with special considerations given the recent economic conditions. Along with publicly urging municipal employees to save, Malloy ensured that a team of experts on this subject made themselves available to each and every employee to ease the process. Since the kickoff of the “Save for Retirement” campaign, Stamford’s municipal employees are better informed of the resources available to them and as a result, are better prepared for retirement.

An invitation from Walnut Creek

Walnut Creek (CA) has a number of successful programs to help the city’s employees save for retirement. The city makes deposits on behalf of employees into a Retiree Health Savings Account to support the medical insurance needs of retirees without creating an unfunded GASB 45 liability. The city touts a high level of participation in both a 457 deferred compensation plan as well as a 401(a). Walnut Creek Mayor Gwen Regalia offered the following invitation in a letter to the USCM:

In Walnut Creek, we know the programs we have in place are contributing to a positive retirement for our employees. We also know that we have more work ahead. It is my hope that by sharing our experiences in Walnut Creek, we will encourage you, the mayors of America’s other great cities to share your best practices... Together, we can all make our cities even stronger than they are today.

Retirement initiative continues in 2009

Cities are planning and starting to implement save for retirement initiatives for National Save for Retirement Week in October 2009. USCM and NRS commend all those who helped make the 2008 Save for Retirement Initiative a success and ask you to continue to share your ideas and best practices with USCM. For those mayors who may not have signed the pledge yet, join us. To sign the pledge, share ideas or other comments, or for additional information about the USCM Deferred Compensation Program, contact Kathryn Kretschmer-Weyland with the U.S. Conference of Mayors by email (kweyland@usmayors.org) or call 301-460-5251.