AARP Survey of Virginia Registered Voters Age 45+: Opinions About State Retirement Plan

In Virginia, 1,291,424 private workers aged 18-64 (45.2%) do not have a workplace retirement plan. It is not surprising then that the majority of all registered voters age 45 and older living in Virginia surveyed agree that elected officials should support creating a Virginia run savings plan so all residents can have the opportunity to save for retirement.

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Key findings include:

• More than half (55%) of working registered voters age 45 and older living in Virginia say they are likely to put off retiring from work as long as possible.
• Six in ten working registered voters age 45 and older living in Virginia say that they are not confident that they have enough money for basics in retirement: Almost half (44%) indicate they are just somewhat confident, and one in six (16%) say they are not very or not at all confident that they will have enough money to take care of basic expenses during retirement.
• Given the amount they currently have in savings and investments, the vast majority (86%) of working registered voters age 45 and older living in Virginia wish that they had more money saved for their retirement years.
• Three in four (73%) of all registered voters in Virginia age 45 and older agree that state elected officials should support creating a state run retirement savings plan.

AARP Virginia commissioned a survey of 1,000 registered voters age 45 and older living in the Commonwealth of Virginia to explore opinions about retirement savings.  The interviews were conducted in English by Precision Opinion from September 5 to September 14, 2014. Precision Opinion utilized a voter list for the sample. The voter list sample targeted age 45+ by gender based on the registered voter universe in the state of Virginia. For more information, contact Jennifer Sauer at jsauer@aarp.org.