Summary: SR 2920, introduced by Senators Pearson, Mack, Gallo, Tikoian, Lauria, Kallman, Euer, on March 04, and referred to the Senate Labor & Gaming, urges state agencies to enhance access to retirement advice and guidance for state employees. The resolution recognizes the complexities of the hybrid retirement system, which combines both defined benefit and defined contribution components, and emphasizes the importance of professional retirement advice throughout an employee's career. It highlights the need for predictable income in retirement and the challenges faced by employees in making informed decisions that impact their financial security.

The resolution calls for the development and expansion of comprehensive retirement advice programs, including workshops, one-on-one financial counseling, and decision-support tools. It encourages state agencies to prioritize assistance for employees who may face greater challenges in retirement preparation and to collaborate with qualified financial advisors to provide holistic guidance. Additionally, it advocates for the integration of technology-assisted tools and the measurement of employee engagement with these programs, ultimately aiming to ensure that employees are well-informed and on track to achieve a secure and dignified retirement.