Americans’ Views and Recent Developments of State-Facilitated Retirement Savings Programs

May 16th, 2024

The gap in access to an employer-provided retirement savings plan has remained stubbornly high for many years. Recently, a number of states have begun taking action to address this persistent lack of access. These states have established state-facilitated retirement savings programs that provide plan coverage to workers whose employer does not sponsor a plan. These states also are innovating as more of these programs begin operating. This includes the creation of a multi-state compact that so far includes Colorado, Delaware, Maine, and Vermont.

NIRS asked the public for their views on these state savings programs in its recent public opinion research. That research found that three-quarters (77%) of Americans think these programs are a good idea and more than four-fifths (83%) would participate in one of these programs, if available. These findings are detailed in a new issue brief from NIRS.

NIRS discussed the findings from its public opinion research as well as the future development of these programs in a webinar. The webinar featured three special guests with detailed knowledge and insight into the implementation and growth of these programs. Webinar speakers included: Tyler Bond, Research Director, National Institute on Retirement Security; Courtney Eccles, Vice-President, State & Client Relationship Management, Vestwell; Anna Stevens, Program Manager, Colorado SecureSavings Program; and Beth Bordowitz, Executive Director, MERIT (Maine Retirement Investment Trust).

Download the presentation.