Survey findings show that Arkansas small business owners and decision makers (those with 1-100 additional employees) are concerned about their employees having enough money to retire.
Key findings include the following:
- Most (74%) support legislation creating a basic, privately managed retirement plan that small businesses could use to address the issue of retirement.
- Eight in ten (82%) AR workers agree that Arkansas lawmakers should support a plan to make it easier for small business owners to offer their employees a way to save for retirement.
- Just over one-in-six Arkansas small business owners/decision makers (18%) offer some type of retirement savings plan to their employees.
- Among Arkansas small business owners/decision makers who do not offer retirement plans to their employees, many (64%) are concerned about the cost of offering a plan.
The AARP 2017 Arkansas Small Business Owner Work and Save Study was a telephone study among 450 small business owners or decision makers about employee benefits at companies with 1-100 additional employees within the state of Arkansas. Interviews were conducted September 6-September 28, 2017. Respondents were offered a $5 check in appreciation for their participation. Sample, including owner names and companies, came from a Dun & Bradstreet business list. For more information contact Jennifer Sauer at JSauer@aarp.org.
LHK Partners, Inc Research. AARP 2017 Arkansas Small Business Owner Survey. Washington, DC: AARP Research, November 2017. https://doi.org/10.26419/res.00176.001