This survey found that registered voters in Virginia are in support of a state retirement plan for those without access to an employer plan. The majority of registered voters are anxious about having enough money in retirement as well as show high concern about cost-of-living increases reducing their standard of living and low confidence in being able to financially handle health care expenses. A majority (87%) of Virginia registered voters agree that state lawmakers should support a state retirement savings plan.
Key findings include the following:
- Nearly three in five (58%) feel anxious about having enough money for retirement.
- Most (80%) are concerned about cost-of-living increases, and half (49%) are not confident they will be able to cover health care expenses in their retirement years.
- Seventy-five percent (75%) support an online marketplace state retirement savings plan that would help Virginia residents save for retirement.
The AARP 2018 Virginia Retirement Security Survey was a telephone survey among 506 registered voters age 18-64 in Virginia on retirement savings issues. Interviews were conducted January 11 through January 17, 2018. Sample was drawn from a registered voter list. For more information contact Jennifer Sauer at JSauer@aarp.org.
Sauer, Jennifer. AARP 2018 Virginia Retirement Security Survey. Washington, DC: AARP Research, February 2018. https://doi.org/10.26419/res.00208.001