Survey findings show that most Minnesota Registered Voters age 35-64 who are in the workforce hope to retire and stop working at the average age of 66, but many do not feel financially prepared for retirement.
Key findings include the following:
- More than one-third (36%) of Minnesota voters feel they are behind schedule for planning and saving for retirement.
- Half of respondents feel anxious about having enough money for retirement.
- Most agree that Minnesota lawmakers should do more to make it easier for Minnesota small business owners to offer a way to save for retirement.
- Nearly three-quarters support a state retirement savings plan that would help Minnesota residents save for retirement through a public-private partnership.
- Most agree that elected officials should support legislation making it easier for workers without employer options to save for retirement.
The AARP 2016 Minnesota Retirement Security Study was a telephone study among 1,000 registered voters age 35-64 in Minnesota on retirement savings issues. Interviews were conducted November 10 - November 27, 2016. Sample was drawn from a registered voter list. For more information contact Jennifer Sauer at JSauer@aarp.org.
Sauer, Jennifer. 2016 AARP Survey of Minnesota Registered Voters Ages 35-64: State Retirement Savings Plan. Washington, DC: AARP Research, March 2017. https://doi.org/10.26419/res.00161.001