Nearly half of the American workforce does not have the option to save for retirement at work. Without an employer-sponsored plan, their only sources of income in retirement are personal savings and Social Security benefits, which tend to fall far short of what is needed to be financially secure.
More than 30 states have taken action to expand workplace retirement savings plans for small business employees, and nine states have enacted legislation. Learn the facts about plan design and see the variety of policies states are pursuing.
Workers, employers and taxpayers all have a stake in state-sponsored retirement savings plans. Several states have commissioned studies of the costs and benefits of various policy proposals, while other experts have estimated the savings to states when more residents are able to save for retirement at work.
What is the impact of financial capability on decisions to save for retirement? How can financial capability tools be used to increase savings? See the results of surveys and studies by AARP, the Employee Benefit Research Institute and other experts.