This AARP survey explored the opinions of 501 Wisconsin small business owners or decision makers about employee benefits. Most small business owners expressed concern as taxpayers that some Wisconsin residents would not have saved enough money for retirement, and about half were concerned that their employees would not have enough money to cover health care or living expenses when they retire. Most small business owners thought that Wisconsin residents should be encouraged to save for retirement.
Three in five small business owners in Wisconsin said they do not offer a retirement savings plan. Nearly three in five said they do not offer one because it's too costly, while three in ten said they are concerned about how complicated they are to operate. More than three-quarters of Wisconsin small business owners supported a privately managed, ready-to-go retirement savings option that would help small businesses offer employees a way to save for retirement. Most agreed that being able to offer a voluntary, portable, retirement savings option helps local small businesses attract and retain quality employees and stay competitive.
Interviews were conducted between June 18 and July 12, 2019. The sample, including owner names and companies, came from a Dun & Bradstreet business list and was weighted to reflect the Dun & Bradstreet universe of businesses in Wisconsin with 0–100 additional employees.
Choi-Allum, Lona. Wisconsin Retirement Savings Program: Opinions of Small Business Owners. Washington, DC: AARP Research, October 2019. https://doi.org/10.26419/res.00324.001.