According to Pew, fewer than 15 percent of households currently contribute to an IRA.
Many states are considering the establishment of their own government-sponsored IRAs, according to Pew, and at least five already have laws on the books to do so: California, Connecticut, Illinois, Maryland and Oregon. These plans would automatically enroll workers who cannot access a pension, 401(k), 403(b) or other retirement plan through their employer.
Pew asked workers about their opinions on automatic state-sponsored IRAs both before explaining what they were and afterward, finding little result in the largely positive response.
For its research, Pew surveyed 2,918 U.S. workers at small- and mid-sized businesses who do not currently have access to a retirement plan and conducted focus groups for additional qualitative content.