New Research Shows Only 26% of Voters Believe
They Will Have Enough Money for Retirement
WILMINGTON, Del., April 23,
2024 /PRNewswire/ -- American voters are concerned
about retirement savings and are not confident they will have
enough money saved for their retirement years, according to public
opinion research completed for the Alliance for Prosperity and a
Secure Retirement.
It's not a close call. 80 percent of voters say Americans are
not prepared for retirement. Even more, 87 percent say the country
faces a retirement crisis.
Only 26 percent of voters said they are "extremely" or "very"
confident they will have enough money for their own retirements.
Another 31 percent said they are "somewhat" confident. Younger
voters were less confident about their retirement security, and so
were voters without pensions.
In focus group interviews, opposition to state elected officials
directing pension fund investment decisions was nearly unanimous.
Nearly all the focus group participants believed there is a
retirement crisis in America.
Polling revealed only 25 percent of voters have seen, read, or
heard about state pensions being affected by elected officials'
influence over investment decisions. But there was nearly unanimous
opposition to state elected officials directing pension fund
investment decisions when conducting focus group interviews. Nearly
all the focus group participants vocalized their belief that there
is a retirement crisis in America.
Half of the voters said elected officials should not be allowed
to direct investment decisions in state pension plans, while 38
percent had no opinion. Partisan allegiances were not a factor: The
reaction was virtually the same among Republican, Democratic, and
independent voters.
On behalf of the Alliance for Prosperity and a Secure
Retirement, Public Opinion Strategies (POS) conducted focus
groups in Columbus, Ohio, and
Atlanta, Georgia, on Feb. 1 and Feb. 7,
respectively. In each group, 2-3 respondents were enrolled in
pension plans provided by state or local governments with all other
participants having a minimum of $50,000 invested in the stock market across both
personal and retirement accounts. A total of 38 voters
participated. Groups were mixed by gender and party. POS also
conducted a national mixed-mode survey from February 26-29, 2024. The survey was conducted
among N=822 registered voters nationwide. The survey consisted of
54% phone interviews and 46% text-to-web interviews. The margin of
error is ±3.42%.
A more complete overview of the research findings memorandum can
be found HERE.
Alliance for Prosperity and a Secure Retirement (APSR) is a
501(c)(4) non-profit organization. We represent the investor's
voice and advance constructive solutions to address the American
retirement crisis. We help policymakers understand the
long-term implications of politicizing pension funds and the
importance of supporting policies that increase access to
retirement and savings solutions.
Alliance for Prosperity and a Secure
Retirement
600 N King Street
Suite 300
Wilmington, DE 19801
info@prosperityretirementalliance.com
302-257-5697
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SOURCE Alliance for Prosperity and a Secure Retirement