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Workers Crave IRAs, Study Says

October 30, 2007
Related Topics: Retirement/Pensions, Benefit Design and Communication, Latest News
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Seventy-one percent of workers without access to an employer-based retirement plan believe that employers should be required by law to offer workplace access to an individual retirement account, according to a study released today.

The study, from Washington-based AARP, found that 79 percent of workers without workplace access to savings said they would participate in a plan that regularly deducted savings from their paycheck.

AARP is the lobbying organization that represents 37 million people age 50 and over.

“With the disappearance of traditional pension plans, saving for retirement today is not the same as it was 20 years ago,” said Tom Nelson, chief operating officer at AARP, in a statement.

“American workers know they need to save, and we should do all we can to help them,” he added.

Filed by Lisa Shidler of Investment News, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

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