January-February 2018 Issue
December 21, 2017

Bipartisan concern for retirement security

Source: NYSUT United

A report published by the National Institute on Retirement Security (NIRS) identified one area where Democrats and Republicans find common ground: economic security in retirement.

"Retirement Security 2017: Americans' View of the Retirement Crisis and Solutions" found 78 percent of Democrats and 76 percent of Republicans are concerned about their ability to achieve a secure retirement. Some 88 percent of Americans agree that the nation faces a retirement crisis. The findings are based on a poll of 800 Americans age 25 or older conducted by Greenwald & Associates.

"Seventy-seven percent of Americans say that the disappearance of pensions is killing the American dream, and they are strongly opposed to cutting Social Security for current and future retirees," said Diane Oakley, NIRS executive director.

The study also found Americans:

  • Strongly support pensions for public sector workers and see these plans as a strong recruitment and retention tool;
  • Regard pensions as a route to economic security in retirement, and see these retirement plans as better than 401(k) accounts; and
  • Believe protecting Social Security remains important. NIRS is a non-profit, non-partisan organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy as a whole.