8 In 10 Americans Support Social Security

AARP: Fifty-five million working Americans do not have a way to save for retirement out of their regular paycheck. With many American workers anxious about their financial security, there is strong support among conservatives and private sector workers for policies that would make it easier for workers to save for retirement, according to a new AARP survey.

The nationally representative survey of private sector workers ages 18-64 shows that 8 in 10 (80%) support state-facilitated plans designed to help employees save their money for retirement. There is also broad agreement among American workers of all races, ethnicities, and political ideologies that elected officials should help small businesses offer their employees an easy way to save for retirement.

Other key findings from the survey include:

• Three in four (74%) private sector workers feel very or somewhat anxious about having enough money to live comfortably through their retirement years. Just a quarter say they are not anxious. Anxiety is high among all racial groups, with large majorities of Latinos (77%), whites (74%), African Americans (73%), and Asian Americans (70%) all saying they are anxious they will not be able to financially support a comfortable retirement.
• Eighty-three percent (83%) agree elected officials should do more to make it easier for workers to save for retirement.
• Eighty-one percent (81%) of political conservatives agree that elected officials should do more to make it easier for workers to save for retirement, as do eighty-six percent (86%) of moderates, and eighty-nine percent (89%) of liberals.
• Eighty-four percent (84%) of private sector workers age 18-64 say elected officials should make it easier for small businesses to offer their employees a way to save for retirement.
• Seventy-six percent (76%) or three in four political conservatives agree that elected officials should make it easier for small businesses to offer retirement plans to their employees, as do about four in five moderates (85%), and liberals (90%).

This survey was conducted by NORC at the University of Chicago with funding from AARP. Data were collected using AmeriSpeak®, NORC’s probability-based panel designed to be representative of the U.S. household population including the 50 states and the District of Columbia, and a supplemental address-based sample from TargetSmart. Interviews for this survey about retirement security were conducted online and via phone between November 1, 2016, and January 16, 2017, with 3,920 adults ages 18-64 employed in private sector industries. Interviews were conducted in English, Spanish, Korean, Vietnamese, and Chinese.