Saturday, May 21, 2022

Play

The election fraud movement resurfaces on the campaign trail, Vice President Harris and abortion providers discuss an action plan, and as New Mexico's wildfires rage, nearby states face high fire danger.

Play

Pennsylvania's Republican U.S. Senate Primary still too close to call, a $40 billion Ukraine aid bill is headed to President Biden's desk, and Oklahoma passes the strictest abortion bill in the country.

Play

From off-Broadway to West Virginia: the stories of the deadly Upper Big Branch mine explosion, baby formula is on its way back to grocery shelves, and federal funds will combat consolidation in meatpacking.

Survey Shows Cross-Generational Concerns about Retirement Savings

Play

Monday, November 8, 2021   

MINNEAPOLIS, Minn. - A new survey underscores calls for laws to make it easier for people to accumulate savings, and Minnesota voices hope to spark more conversation about it.

An AARP survey says 63% of voters age 25 plus are anxious about having enough money to last through their retirement years. Some 92% back legislation to create more savings opportunities on the job, to be deducted from paychecks.

Kate Schaefers, volunteer state president of AARP Minnesota said that kind of policy not only prepares younger age groups for their golden years, but also to be ready for critical needs along the way.

"As we've seen some erosion of our middle class over the years, it's really important to look at starting early with saving practices," said Schaefers. "So that people are prepared for those opportunities when they need to have money in the bank, but also for retirement."

A proposal in Congress would require employers to set up automatic retirement accounts if not already offered. Some states have similar laws on the books, but Minnesota isn't among them.

The U.S. Chamber of Commerce advocates for plans set up by individual employers rather than states. AARP hosts an online panel discussion on the topic tomorrow evening, featuring voices from four different generations.

Schaefers said it's important for different age groups to share their experiences in navigating the savings maze. As for people nearing retirement age who lack the necessary funds, she said she thinks employers should provide more flexibility to allow them to keep working.

"I know that this pandemic has had a huge impact on older workers," said Schaefers. "And I think as we come out of it, providing those opportunities for people to be safe in the workplace, while still also continuing to work at some capacity, is going to really help people, financially."

Also from the survey, only three in ten voters between age 25 and 44 believe they'll have enough money for retirement. For those 45 and older not yet retired, 81% wish they had more set aside.

Tomorrow evening's event begins at 6:30. Details are on the AARP website.



Disclosure: AARP Minnesota contributes to our fund for reporting on Budget Policy & Priorities, Consumer Issues, Health Issues, Senior Issues. If you would like to help support news in the public interest, click here.


get more stories like this via email
Over the past two years, pro-democracy groups say more than 30 states have proposed nearly 230 laws viewed as an attempt to undermine elections. (Adobe Stock)

Social Issues

Examples of proposed policies and candidates tied to false claims of election fraud have spread to Minnesota, and a new national report found the …


Environment

New Mexico continues to battle the largest wildfires in its history, and other states including Nevada, along with parts of Arizona and Colorado…

Social Issues

A new museum exhibition in Baltimore opening to the public today aims to tell the story of Maryland's fight for civil rights, both in the past and …


The Federation of Virginia Food Banks' seven regional food banks distributed approximately 165 million pounds of food in 2021. (Adobe Stock)

Social Issues

Virginia's food banks are facing a perfect storm of issues. High inflation for everyday goods is driving up food costs for lower-income families…

Health and Wellness

Vice President Kamala Harris met with abortion providers from Missouri and other restrictive states Thursday to consider ways the Biden administration…

The fatality rate for Black bike riders is 30% higher than for white bike riders, according to the League of American Bicyclists. (Adobe Stock)

Health and Wellness

Today is National Bike to Work Day, and while it may sound "easier said than done," it may not be as daunting as you think. Enthusiasts said the …

Environment

Connecticut is celebrating its first estuary reserve, which will help identify environmental threats to waterways and natural resources. …

Health and Wellness

A new report urges states to take steps to minimize Medicaid coverage loss when the state of emergency for the pandemic comes to an end. COVID …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021