AARP survey finds support for public retirement plan

HARTFORD, Conn. – A new survey of 452 small business owners in Connecticut with fewer than 50 employees found two out of five don’t provide a retirement savings plan. The survey conducted by AARP also found that one out of five business owners don’t have a retirement plan for themselves.

The most common reason cited for not offering a plan to their employees was cost. However, 64 percent of those who do not currently offer a retirement plan said they would use the public plan if it was offered.

Connecticut is laying the groundwork for a public retirement plan. A law was passed last year that created the Retirement Security Board, which is using private funds to create a plan that would allow workers to contribute to a fund managed by the state through a payroll deduction.

See the complete story at CT News Junkie.