A new national initiative is accepting grant proposals from state and local governments to establish or improve employee financial wellness programs. Up to 26 grants will be offered for a one-year, non-renewable initiative. The grant funding amount is based on jurisdiction workforce size, with up to $100,000 available for state and local governments with 2,500 or more employees.
Proposals are due by July 15, 2020, and the Request for Proposals (RFP) is available here. Notification and the start of grants is planned for September 14, 2020.
Funded by the Wells Fargo Foundation, the initiative is administered via a collaboration between the Center for State & Local Government Excellence (SLGE), the International Public Management Association for Human Resources (IPMA-HR), and the National Association of State Treasurers’ Foundation (NASTF). The initiative will offer up to $1.4 million in total in grants to selected state and local governments.
This effort comes as state and local governments confront unprecedented budget shortfalls and employees face financial challenges in the wake of the COVID-19 health and economic crisis. Even before the crisis, state and local governments were seeking ways to strengthen employee financial literacy.
The purpose of the RFP is to solicit proposals from local governments and state governmental entities with an interest and capacity to develop and offer a financial wellness program to their employees. Proposals should be structured to reach employees in one or a combination of formats to raise awareness, improve knowledge, and change employees’ financial wellness behaviors. The target audience may be an entire jurisdiction or specific departments, and partnerships between entities are encouraged. To assist governments in establishing these programs, SLGE, IPMA-HR, and NASTF will also provide, at no charge, supplementary tools and resources that applicants can reference in preparation for program implementation. See appendix A of the RFP for further information.
A webinar outlining the program and responding to questions is available to view by clicking on the image below:
The National Association of State Treasurers’ Foundation promotes and improves the educational initiatives that enable members to pursue and administer sound financial policies and programs benefiting the citizens of the nation. NAST Foundation programs provide for the enhancement of public officials’ understanding of the public financial arena and delivers education to the public about personal financial management. Founded in 2000, the charitable organization is governed by five-member board made up of State Treasurers. For more information, please visit nast.org/foundation/
The International Public Management Association for Human Resources (IPMA-HR) represents the interests of public sector human resource professionals at all levels of government. IPMA-HR provides comprehensive resources and solutions to assist public sector human resource professionals in ensuring that their organizations have the right talent to achieve their missions. The association provides a wide range of programs products and services that include research, professional development, certification, communications, public policy, and assessments. Additional information about IPMA-HR is available at www.ipma-hr.org.
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,950 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.