Staying Fit
The recently released study found that nearly all North Carolina registered voters age 45-plus wish they had more money saved for retirement. About twenty percent of those employed say their employer does not provide a retirement savings plan, though many say they would contribute if it were offered. Furthermore, many North Carolina registered voters age 45-plus would support a retirement savings plan that was set up by the state and run by the private sector. This would be a savings plan for people who do not have access to a retirement plan at work. It would be voluntary, flexible and professionally managed. Support increases for this plan if the plan worked similar to a 529 college savings plan where people contribute into a retirement savings account that is professionally managed.
Key findings include:
- Eighty-six percent of North Carolina registered voters wish they had more money saved for their retirement years.
- Of those North Carolina registered voters age 45 and older who are employed full or part time, one in five works for employers that do not offer a way to save for retirement.
- For those respondents whose employers did not offer a plan, about more than three-quarters say they would be likely to join if the opportunity presented itself.
- Six in ten North Carolina registered voters age 45-plus would support a retirement savings plan that was set up by the state and run by the private sector.
- About nine in ten said the plan being voluntary, portable, accessible, and being of low cost to tax payers and participants are important features to have in the plan.
The AARP 2015 North Carolina Financial Security Survey was conducted as a telephone survey among registered voters age 45 or older in North Carolina. The survey was approximately 14 minutes in length. The interviews were conducted in English by Precision Opinion from November 10th to November 19th, 2014. For more information, contact CCantave@aarp.org.
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