New Platform from PensionPortal.com Helps Public Employers Recruit and Retain Their Employees
September 12, 2023
DALLAS, Ore.–(BUSINESS WIRE)–Today, PensionPortal.com announces the release of a new platform to help public employees understand the value of their pension. When public employers provide access to the portal, their employees better understand when they can retire and how much their pension is worth.
“So many state and local governments have generous retirement systems that can serve as an important tool for retaining public employees,” said Jim Westrum, a school business officer in Minnesota. He explained that, with a defined benefit plan, the last years of employment are often the most impactful, so leaving public employment could have a disproportionate effect on retirement income. “Unfortunately, when public employees don’t fully understand or appreciate the value of those retirement benefits, they may leave their jobs for new opportunities without fully understanding the financial implications.”
The portal performs two types of calculations for employees…