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Pennsylvania Voters Would Support a State Retirement Savings Plan

Pennsylvania State Retirement Savings Program: Survey of Registered Voters Ages 25 and Older

Pennsylvania State Capitol Building

This survey was commissioned by AARP in Pennsylvania to gauge the support of registered voters for a public–private managed state retirement savings program. 

Top Findings

  • Most (88%) Pennsylvania voters agree that state lawmakers should support legislation that makes it easier for workers to save for retirement.
  • Over 3 in 5 (62%) Pennsylvania voters are anxious about having enough money to live comfortably in their retirement years and half (49%) are behind schedule in planning and saving for retirement.
  • About one in seven (14%) registered voters say their employer does not offer a retirement savings plan and most (89%) would likely enroll in one if offered.

Background

A financially secure retirement is out of reach for millions of American workers and small business owners. Retirement savings plans can be costly to operate and challenging to manage, leaving many workers and small business owners without access to a retirement plan.

To help workers better prepare for their retirement, AARP is supporting states in their efforts to create and implement a state retirement savings option that would enable businesses to offer employees a way to save via a payroll deduction. These public–private managed programs would be easy for employers to set up, and they would have low costs and low risks to the employer and the state.

Methodology

The sample of 600 registered voters ages 25 to 64 was drawn from a registered voter list. Half (300) of the interviews were conducted via landline phone and half (300) were conducted via cell phone. The survey was fielded in July 2019. All data are weighted by age, gender, and race/ethnicity according to the June 2019 Pennsylvania state voter database statistics.

For more information, please contact Jennifer Sauer at jsauer@aarp.org. For media inquiries, please contact media@aarp.org.

 

Suggested citation:

Sauer, Jennifer. Pennsylvania State Retirement Savings Program: Survey of Registered Voters Ages 25 and Older. Washington, DC: AARP Research, January 2020. https://doi.org/10.26419/res.00333.001