No Retirement Plan at Work?

An automated savings program can fix that

Video Read time:
Projects: Retirement Savings
No Retirement Plan at Work?

This video is hosted by YouTube. In order to view it, you must consent to the use of “Marketing Cookies” by updating your preferences in the Cookie Settings link below. View on YouTube

This video is hosted by YouTube. In order to view it, you must consent to the use of “Marketing Cookies” by updating your preferences in the Cookie Settings link below. View on YouTube

No Retirement Plan at Work? An Automated Savings Program Can Fix That

Americans from all walks of life work hard to save for retirement. However, nearly half of private sector employees—tens of millions of Americans—do not have access to retirement savings at work. Automated savings programs also known as “auto IRAs,” can help employers provide access to retirement savings options without cost to small business owners. These programs not only help small businesses retain top talent, but they also reduce the burden on states and taxpayers by lowering the amount of social assistance needed to help workers after they retire.

State Automated Savings Programs
State Automated Savings Programs

State Automated Savings Programs

Collected resources on employer, worker, and taxpayer experiences

Quick View
State Automated Savings Programs

Tens of millions of Americans don’t have access to workplace retirement benefits, threatening their future financial security and burdening state budgets. In the last decade more than a dozen states and cities passed legislation establishing automated savings programs designed to help workers save for retirement. Also known as auto-IRAs, work and save, and secure choice, these programs allow small businesses to recruit and retain workers by offering a no-cost retirement benefit. And when workers are more financially secure, they are less reliant on taxpayer-funded government programs, better able to withstand financial shocks, and more likely to save for their future.

Video
Projects: Retirement Savings
Topics: Retirement, Fiscal & Economic Policy & U.S. State Policy
Experts: John Scott & Alison Shelton
Places: United States
Related Experts
John Scott
John Scott Project Director
Retirement Savings
Alison Shelton Senior Officer
Retirement Savings
America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
MEDIA CONTACT
Omar Martinez Officer, Communications 202.540.6849

ADDITIONAL RESOURCES

A presentation being given by a businesswoman to a group of participants at a business conference.

Fact Sheet

April 12, 2024 Four Plan Features Can Boost 'Retirement Readiness'
An illustration of a couple holding hands walking away from an outline of houses behind them

Podcast

March 22, 2024 Pathways to Homeownership: Housing in America
A landscape with mountains and clouds. BLM Rule Puts Conservation, Other Land Uses on Equal Footing

MORE FROM PEW

An aerial view of a vast wetland, with scattered vegetation visible on sandy islands. In Western Australia, a Conservation Model for the World
A large group of people in formal or traditional attire stands together on a stage, with a digital background depicting marine life and the large text “WTO Agreement on Fisheries Subsidies.” WTO Needs to Redouble Its Effort on Fishing Subsidies
A man in a winter hat and sunglasses kneels on a rocky shoreline in front of a campfire, holding a metal mug with gloved hands. Behind him, in the water, a motorboat is moored to the shore. Cliffs rise on both sides of the water. Why Newfoundland’s South Coast Fjords Are Sacred
A landscape with mountains and clouds. BLM Rule Puts Conservation, Other Land Uses on Equal Footing
Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics
Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.
Quick View
Pills illustration

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.