AARP Hearing Center
Many workers in Kansas, particularly those who work for small business owners, lack access to a retirement savings plan through their employer. As a result, these workers could be faced with relying on just their Social Security when they retire.
Being able to offer a retirement savings plan to workers is important to small business owners in Kansas. It helps them stay competitive with larger employers and provides their workers with an opportunity to improve their financial security in retirement. But retirement savings plans can be costly and complicated to operate, making it hard for small business owners in Kansas to offer one to their employees.
To help with this situation, AARP is supporting states in their efforts to create and implement a state retirement savings option that would enable small business owners and their employees to better prepare for retirement. These privately managed savings options would be easy for employers to set up with no costs and low risks to the employer.
This new AARP survey of small business owners across the state of Kansas shows solid support (76 percent) for a privately managed, ready-to-go retirement savings option for small business owners that would offer workers a way to save for the future. And nearly all (80 percent) agree that state lawmakers should support a bill that makes it easier for small business owners to access a retirement savings option for their employees and themselves.
Methodology
AARP commissioned Alan Newman Research (ANR) to field this 2024 Kansas Small Business Owner Survey between October 2 and October 25, 2024. Interviews were conducted by cell and landline phone among 502 small business owners or decision makers about employee benefits at companies with 1–100 additional employees. The sample is weighted by business size (i.e., number of employees), industry and region/county according to 2021 Economic Census statistics.
For more information, please contact Jennifer Sauer at jsauer@aarp.org. For media inquiries, please contact External Relations at media@aarp.org.
MORE FROM AARP
Before the Diagnosis: Dementia’s Early Financial Toll
The years preceding a dementia diagnosis come with the risk of significant financial losses. Researchers are working to better understand this stage of life and the hidden financial hazards it holds for older adults and their families. What is driving these losses, and what can be done to mitigate them? To address these questions, MIT AgeLab and AARP convened a one-day symposium on April 10, 2024, at the Massachusetts Institute of Technology. This report reflects the insights, strategies, levers for change, and barriers to overcome that surfaced during the symposium.