State Retirement Resource Center

This paper examines the experience with OregonSaves, the country’s longest-running plan, documenting that the program did prompt some participant savings.

The Employee Benefit Research Institute (EBRI) published a new research study that found that when automatic enrollment, automatic escalation, and automatic portability are used together, the impact can be substantial in reducing the likelihood that today's workers will run short of money in retirement.

Early results indicate state retirement savings programs do increase access and have already accumulated almost $2 billion in assets. Studies also suggest that state mandates have resulted in the creation of new employer-provided retirement savings plans.

This report examines how five surveys measure emergency savings, whether savings rates differ across surveys, and what household characteristics are predictive of high emergency savings.

This fact sheet offers key figures about Americans’ access to workplace retirement savings programs.

Access to payroll deduction retirement accounts provides workers an easy way to put money aside, with data indicating state-facilitated Auto IRAs programs have been a success.

The SECURE 2.0 Act is a recently enacted significant piece of legislation that has brought about substantial changes to the retirement account rules in the United States. These changes affect retirement savings plans such as 401(k), 403(b), IRA, Roth accounts, and related tax breaks.

Among the many changes it makes to retirement policy, the new law pushes back the required minimum distribution age for individual retirement accounts (IRAs), increases catch-up contribution limits for people over 50, and no longer requires employers to opt in; rather, once employees are eligible, employers will automatically enroll them into a retirement savings plan.

The SECURE 2.0 contains a several provisions that are scheduled for implementation in the coming years. Here’s how the legislation may impact retirement savings in 2025.

Over half of respondents reported that they expect inflation to increase through 2024, and 83% are concerned that the increasing cost of living will negatively impact their ability to save for retirement. This is despite evidence inflation is cooling.

Total U.S. retirement assets were $40.0 trillion as of June 30, 2024, up 1.3% from March. Retirement assets accounted for 32% of all household financial assets in the United States at the end of June 2024.

This interactive resource helps employers find retirement plans for their employees, with the tool detailing various retirement plan options for various business types. It also has information pertaining to state-mandated legislation on retirement plans, timelines for program enactment, and specific state program details such as offered plans, effective dates, and included employers/employees.

A state-run retirement savings program can provide “significant benefits” for workers whose employers don’t offer plans, according to a study of a model in Oregon recently published in Contemporary Economic Policy.

Since 2012, every state except Alabama has either enacted or introduced legislation establishing state-facilitated retirement savings programs.

Most Americans (77%) agree that state-facilitated retirement savings programs are a good idea. There is high support across party and generational lines, with support highest among Millennials (79%).

The Federal Reserve reports that financial well-being declined, and 35% of those surveyed said they were worse off than the year before, while only 31% of non-retirees from the 2023 survey thought their retirement plan was on track — down 9% from the year before. Across America, many states are experiencing a retirement savings crisis. For example, in Connecticut, 600,000 working people in private industries still have no access to retirement plans. To deal with this crisis, 18 states and two cities have enacted legislation, and nine have fully implemented programs.

State Rep. Evan P. Shanley has introduced a bill establishing a voluntary state retirement savings plan, with deductions from Rhode Islanders’ paychecks into a low-cost voluntary retirement savings plan.

Pew supports a bill to help 1.2 million private-sector workers without access to employer-sponsored savings plans, establishing an automated savings program.

A recent study by Pew quantified the projected costs of insufficient retirement savings both nationally and in Washington state, finding that insufficient savings results in decreased household spending on goods and services and increased demand for social assistance programs.

This AARP survey explored the opinions of 511 Utah small business owners or decision makers about employee benefits.

This AARP survey explored the opinions of registered Michigan voters on retirement saving issues.

This AARP survey explored the opinions of Arizona registered voters on retirement saving issues. Results revealed that two in three Arizona registered voters feel anxious about having enough money to live comfortably in retirement.

Four in five Hawai`i small business owners support a privately managed, plug-and-play retirement savings option that would help small businesses offer employees a way to save for retirement, according to a recent AARP survey.

This AARP survey explored the opinions of 500 Kansas small business owners or decision makers about employee benefits.

This study looks at Social Security knowledge among respondents and suggests those exposed to information related to Social Security and other benefits are more likely to be financially well-off in retirement.

This study highlights the positive economic effects of retirement savings and finds that automated savings programs for private sector workers can reduce the strain on government budgets.