AARP Research

Giving Small Businesses a Competitive Edge: The Connecticut Retirement Savings Plan

Findings from the 2016 survey are available here: A Common Sense Approach: The Connecticut Work and Save Plan, an AARP Survey of CT Registered Voters Ages 35-64

The 2015 Connecticut Small Business Owner Financial Security Survey was conducted as a telephone survey among business  owners or decision makers with 5-50 employees. The survey examined opinions and experiences related to retirement savings issues.

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Key findings include:

  • Many small businesses in Connecticut (those with 5-50 employees) see the value in saving for retirement.
  • Four in five have a personal retirement savings plan, but many face challenges to providing a retirement savings plan to their employees.
  • Two in five do not provide access to workplace retirement savings, with cost cited as the top reason for not providing a retirement plan.
  • Most business owners agree that saving through work is important.
  • Three in five support a state retirement savings plan that would help Connecticut residents build their own private retirement savings.
  • Four in five agree that Connecticut should do more to encourage residents to save for retirement.

The 2015 Connecticut Small Business Owner Financial Security Survey was conducted as a telephone survey among business owners or decision makers with 5-50 employees.  A total of 452 interviews were conducted by the American Institute of Consumer Students from March 12th to April 7th, 2015. The data was not weighted.  For more information, contact Brittne Nelson at BNelson@aarp.org.

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