Most Americans save for retirement through employer-provided plans, but over 30 million private sector workers lack access to a plan through their jobs. The availability of savings opportunities varies significantly by state. Since legislative efforts began in earnest in 2012, 80 percent of states have considered—or are considering—legislation to address gaps in access. Nine—California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Oregon, Vermont, and Washington—have enacted legislation to implement programs for private sector workers. Four more— Minnesota, New Mexico, Utah, and Virginia—have initiated studies to examine the potential impact of various programs.
The efforts generally focus on three approaches:
Each is detailed in The Pew Charitable Trusts’ 2016 report “How States Are Working to Address the Retirement Savings Challenge.”
The map below highlights efforts from 2012 through mid-2017 and illustrates the continued and growing legislative focus on retirement security.