2016 AARP Arizona Voter Retirement Security Survey Annotation

Transcription

1 2016 AARP Arizona Voter Retirement Security Survey Annotation Registered Voters Age Sampling Questions 1. Age of Respondents [35-70 Registered Voters] % % % 2. Are you registered to vote in Arizona? Yes 100.0% 3. And just to confirm, are you a resident of Arizona? Yes 100.0% 4. Gender Male 47.3% Female 52.7% 5. Hispanic Origin Yes 17.0% No 81.6% Not sure 0.5% Refused 0.9% MAIN QUESTIONS 6. As you think about your finances in the future, how anxious do you feel about having enough money to live comfortably through your retirement years? Are you? Very anxious 18.3% Somewhat anxious 37.3% Not very anxious 19.6% Not anxious at all 23.3% Not sure 1.5% 2016 AARP Arizona Voter Retirement Security Survey Annotation 1

2 7. Given the amount you currently have saved, do you wish you had more money saved for your retirement years? Yes 83.4% No 15.7% Not sure 0.7% Refused 0.2% 8. Employment Status Self-employed full-time 10.3% Self-employed part-time 4.2% Employed full-time 43.6% Employed part-time 5.6% Retired and not working at all 22.6% Unemployed and looking for work 3.1% Not in the labor force for other reasons 10.3% Not sure 0.2% 9. Thinking about your future, do you hope to be able to completely retire one day and not work either full- or part-time for pay? [Asked only of those who are NOT retired] n=774 Non-Retired Respondents Yes 82.4% No 12.4% Haven t thought about it or not sure 4.8% Refused 0.4% 10. People have different ideas about when they will retire. What age do you consider to be YOUR retirement age? [Asked only of those who are NOT retired] Predicted Retirement Respondent Age (n=690; not retired) Age Total Less than % 31.8% 0.0% 34.9% % 47.8% 39.0% 42.2% % 13.4% 34.1% 15.4% % 3.8% 17.1% 3.9% % 3.2% 9.8% 3.6% 2016 AARP Arizona Voter Retirement Security Survey Annotation 2

3 11. How important is it for people to be able to save money for their retirement years while they are working? Very important 94.4% Somewhat important 4.1% Not very important 0.3% Not important at all 0.7% Not sure 0.4% 12. When it comes to planning or saving for retirement, would you say that you are ahead of schedule, on track, or behind schedule? [Asked only of those who are NOT retired] n=774 Non-Retired Respondents Ahead of schedule 11.6% On track 44.2% Behind schedule 42.7% Not sure 1.4% 13. Which of the following ways to save for retirement does your current employer provide? Do they provide? [Asked only of those who are employed] n=637 Employed Respondents A traditional pension plan a defined benefit plan 16.8% An IRA, 401k or 403b defined contribution plan 42.1% Both defined benefit and contribution plans 14.1% My employer doesn t offer a way to save for retirement 16.5% Don t know 9.4% Refused 1.1% 14. If your employer offered a way to save for retirement at work, how likely would you be to take advantage of it? [Asked only of those without an employer retirement plan or who did not know if their employer offered a plan or those who refused] n=172 Respondents w/o Plan or Not Sure or Refused Very likely 63.4% Somewhat likely 16.2% Not very likely 3.5% Not at all likely 8.1% Not sure 7.6% Refused 1.2% 2016 AARP Arizona Voter Retirement Security Survey Annotation 3

4 15. Are you making regular contributions to any of the following savings tools? A workplace retirement savings plan such as a 401k or 403b offered by your employer [n=465 only those with access to these plans] A personal retirement savings plan such as an IRA or Yes No Not sure Refused 74.7% 24.9% 0.2% 0.2% 36.2% 62.4% 0.9% 0.5% thrift savings plan A personal savings account 62.6% 36.6% 0.2% 0.6% Other personal investments in stocks or mutual funds 38.3% 60.5% 0.5% 0.7% Something else 12.9% 85.4% 0.8% 0.9% 16. How concerned are you as a taxpayer that some Arizona residents have not saved enough money for retirement and could end up being reliant on public assistance programs? Are you? Very concerned 38.0% Somewhat concerned 35.6% Not very concerned 12.8% Not concerned at all 11.7% Not sure 1.8% 17. Many in Arizona, especially those who work for small businesses, do not have a way to save for retirement at work. One way to help more residents save would be for the state to set up a retirement savings plan, where workers can save for retirement automatically out of their regular paycheck. Workers can choose whether or not to participate, and the account would be portable from job to job. The plan would not use taxpayer dollars. It would be professionally managed and have low fees for participants and employers. Do you support or oppose this plan? Is that strongly or somewhat? Strongly support 45.9% Somewhat support 29.6% Neither support nor oppose 5.0% Somewhat oppose 5.6% Strongly oppose 10.1% Not sure 3.7% 2016 AARP Arizona Voter Retirement Security Survey Annotation 4

5 18. Now I m going to read a list of some features of a proposed Arizona retirement savings plan, and I d like you tell me how important each would be to you. After I finish reading each statement, tell me if that feature is very important to you, somewhat important, not too important, or not at all important to you. Portable, so if you leave one job you can take the money and account with you to your next job Very Important Somewhat Important Not very Not at all Important Important Not sure Refused 85.1% 6.7% 1.6% 5.1% 1.2% 0.3% Low cost to participants 71.7% 15.7% 4.1% 6.4% 1.8% 0.3% Voluntary so participants are not required to make contributions 59.3% 24.3% 7.0% 6.6% 2.3% 0.5% Available to everyone, including employees who work for small businesses 71.9% 17.2% 3.3% 6.1% 1.2% 0.3% 19. One way that local small businesses can stay competitive is by offering their employees some of the same benefits that big companies do, like a retirement savings plan. But many small businesses are currently unable to do so because it s too costly and complicated to set up a plan on their own. Thinking about this, do you agree or disagree with the following statements? Is that strongly or somewhat? Arizona elected officials should do more to make it easier for small businesses to offer their employees a way to save for retirement? Strongly agree 61.8% Somewhat agree 23.6% Neither agree or disagree 1.5% Somewhat disagree 4.2% Strongly disagree 7.3% Not sure 1.3% Refused 0.3% 20. Do you agree or disagree with the following statement? Is that strongly or somewhat? Arizona elected officials should support legislation that makes it easier for workers to save their own money for retirement. Strongly agree 66.1% Somewhat agree 20.4% Neither agree or disagree 1.8% Somewhat disagree 3.7% Strongly disagree 6.5% Not sure 1.2% Refused 0.3% 2016 AARP Arizona Voter Retirement Security Survey Annotation 5

6 21. How strongly do you agree or disagree that being able to offer a voluntary, portable retirement plan would help Arizona small businesses attract good employees and be good for our local economy? Is that strongly agree, somewhat agree, somewhat disagree, strongly disagree or do you neither agree or disagree? Strongly agree 61.8% Somewhat agree 22.9% Neither agree or disagree 5.3% Somewhat disagree 3.1% Strongly disagree 5.4% Not sure 1.1% Refused 0.4% Demographics D1. What is your current marital status? Are you? Married 66.9% Not married, living with your partner, or significant other 2.4% Separated 1.0% Divorced 11.3% Widowed 4.2% Currently single, never married 12.8% Not sure 0.2% Refused 1.2% D2. AARP Membership Yes 27.6% No 71.1% Not sure 0.6% Refused 0.7% D3. Education Attainment 0 to 12 th grade, but with no diploma 4.7% High school graduate or equivalent 12.5% Post high school education, but with no degree 9.5% 2-year degree 18.7% 4-year degree 22.7% Post-graduate study, but with no degree 7.6% Graduate or professional degree 22.8% Not sure 0.6% Refused 0.9% 2016 AARP Arizona Voter Retirement Security Survey Annotation 6

7 D4. Race White/Caucasian 75.5% Black/African-American 3.9% Native American/Alaskan Native 2.4% Asian 1.1% Native Hawaiian/Pacific Islander 0.2% Some other race 14.0% Not sure 0.1% Refused 2.8% D5. Do you own or rent your primary residence? Own 84.1% Rent 12.1% Live with family 1.5% Live with friends 0.2% Other 0.6% Not sure 0.1% Refused 1.4% D6. Do you do something to earn extra money that is not your main source of income? Yes 22.0% No 76.3% Not sure 0.3% Refused 1.4% D7. Political Party Democrat 31.6% Republican 34.3% Independent 26.4% Something else 3.0% Not sure 1.8% Refused 2.9% 2016 AARP Arizona Voter Retirement Security Survey Annotation 7

8 D8. Political Ideology Very conservative 15.6% Somewhat conservative 23.6% Moderate 29.8% Somewhat liberal 14.5% Very liberal 10.9% None of the above/something else 1.4% Not sure 2.2% Refused 2.0% D9. Household Income Before Taxes in 2015 Less than $10, % $10,000 to less than $20, % $20,000 to less than $30, % $30,000 to less than $40, % $40,000 to less than $50, % $50,000 to less than $60, % $60,000 to less than $75, % $75,000 to less than $100, % $100,000 to less than $125, % $125,000 to less than $150, % $150,000 to less than $200, % $200,000 and more 5.2% Not sure 1.7% Refused 12.7% METHODOLOGY: The AARP 2016 Arizona Work and Save Study was a telephone survey about retirement security issues among 1,000 registered voters age in Arizona. Interviews were conducted November 11 th through December 5th, The sample was drawn from a registered voter list. The margin of sampling error is +/-3.1%. Percentages reported are rounded. For more information contact, Dana Kennedy, State Director, AARP Arizona (dkennedy@aarp.org), (602) ; or Terri Guengerich, AARP Research, tguengerich@aarp.org, (202) AARP Arizona Voter Retirement Security Survey Annotation 8