HARRISBURG, Pa., July 27, 2022 /PRNewswire/ — AARP research shows that Pennsylvania voters and small business owners support the creation of Keystone Saves, a retirement savings program for workers who do not have access to one through their employer. Voters age 50-plus said they would be more likely to vote for a candidate for governor who supports creating Keystone Saves, according to an AARP poll. Furthermore, four in five small business owners surveyed by AARP agree that Pennsylvania lawmakers should support Keystone Saves.
Research shows that people are 15 times more likely to save when they can do so out of their regular paycheck. Yet, roughly 44 percent of hardworking Pennsylvanians – nearly 2.1 million workers – do not have a way to save for retirement at work. To address this, AARP Pennsylvania is advocating for House Bill 2156, which will create Keystone Saves. This program will provide Pennsylvania workers with an easy way to save out of their regular paychecks, helping them grow the savings they need to take control of their financial future.
“The results of our recent surveys are crystal clear, small business owners in the Keystone State and Pennsylvania voters 50+ want elected officials to empower millions of Pennsylvanians to save for a financially secure and independent retirement,” said Bill Johnston-Walsh, AARP Pennsylvania State Director. “Keystone Saves is a common-sense, business-friendly solution to a big problem, which if left unfixed will cost Pennsylvania taxpayers more than $14 trillion over 15 years in public assistance costs.”
Together, the survey findings reveal:
- Majorities of voters 50+ across party lines support Keystone Saves – with support from nearly 79% of Democrats, 68% of Independents, and 56% of Republicans.
- 83% of Black voters 50+ are strongly in favor of Keystone Saves.
- 79% of small business owners agree that Pennsylvania lawmakers should support Keystone Saves.
- 73% of small business owners express concern that some Pennsylvania residents have not saved enough money for retirement and could end up relying on public assistance programs.
AARP commissioned Fabrizio Ward and Impact Research to conduct the voter survey. The firms interviewed 1,382 likely Pennsylvania voters, which includes a statewide representative sample of 500 likely voters, with an oversample of up to 550 likely voters age 50 and older, and an oversample of up to 332 African-American/Black likely voters age 50 and older. The survey was conducted between June 12-19 via landline, cellphone, and SMS-to-web. The margin of error for the 500 statewide sample is ±4.4%; for the 855 total sample of voters 50+ it is ±3.3%. View the full survey results.
AARP Research conducted a survey of 500 small business owners and Pennsylvania with 5 to 100 employees was commissioned by AARP to gauge the support of small business owners in the state for a public–private retirement savings program. The survey was fielded April–May 2022. View the full survey results.
For more information on how, when and where to vote in Pennsylvania, visit aarp.org/PAvotes. For more information on Keystone Saves, visit action.aarp.org/secure/support-keystone-saves.
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol, @AARPadvocates and @AliadosAdelante on social media.
CONTACT: TJ Thiessen, (202) 374-8033, [email protected]
SOURCE AARP Pennsylvania