2. Political Party? Other 28% Democratic 36% Republican 36%

Transcription

1 Data Analysis

2 2. Political Party? Other 28% Democratic 36% Republican 36%

3 5. How much do you fear not having enough saved for retirement? Not at all 22% A little 38% 3% A lot 37% Three out of four respondents overall (75%%) fear they won t have enough saved for retirement. This fear spikes to more than 8 in 10 overall among both year olds (82%) and year olds (81%). Meanwhile, Millennials (18 29 year olds) are the least likely to be fearful, with 1 in 3 (33%) saying they have no fear at all about having enough saved for retirement; not surprising given their current station in life as well as a greater generational tendency to reject hierarchy and structure. Perhaps that will change when they enter new phases.

4 6. Which of the following types of accounts do you presently have for your retirement? (Choose all that apply) % 36% 61% Employer sponsored retirement plan Individual retirement account(ira) Savings account or Cash Non-Retirement brokerage account Employee Stock Ownership Plan(ESOP) Annuity Social Security None Not surprisingly, only 5% of respondents participated in ESOPs as their vehicle for retirement investing/saving. Savings and cash were the largest type of account with 61% of respondents holding their retirement funds in this fashion; meanwhile, employer sponsored plans came in at 38% and IRAs at 36% % Other 6% 1% 1% 1% 13% Nearly 2 in 3 respondents who earn more than $75,000 in annual income say they use employer sponsored retirement plans as a vehicle for retirement savings. This percentage is significantly higher than the 43% of those who earn between $35,000 to $75,000 and only 13% who earn less than $35,000.

5 8. On a scale of 1 to 5 with 1 being of no importance and 5 being of greatest importance, how important is it to you that Congress acts immediately to enact tax reform legislation? (CONT.) % 26% 25% 3% 6% 5 Greatest importance 4 3 Neutral 2 1 No importance There appears to be across the board agreement on the importance of tax reform. Over 3 in 5 (62%) rate it as important overall; and at 36%, respondents are more likely than any other level to ascribe Greatest Importance to tax reform. Only 7% of respondents say it is of low importance or not at all, while a quarter of respondents (25%) are neutral on this issue. All age groups believe it is more important than not but the frequency increases with age, as 2 in 3 (66%) respondents 65 and older say tax reform is important.

6 8. On a scale of 1 to 5 with 1 being of no importance and 5 being of greatest importance, how important is it to you that Congress acts immediately to enact tax reform legislation? (CONT.) % 26% 25% 3% 6% 5 Greatest importance 4 3 Neutral 2 1 No importance Republicans are clearly more interested in tax reform as 72% of GOP supporting respondents think tax reform is important compared to 56% of Democrat respondents; you can be sure there is an even wider gulf separating them in how to go about reforming the tax code. Non-white respondents are more likely than whites to say it is of greatest importance (41% vs. 3). Younger voters (18-29 year olds) are less likely to rate it to be of greatest importance, while 39% of and 38% of those 65+ rate it to be of greatest importance.

7 9. On a scale of 1 to 5, please rate your level of agreement with the following statement: Congress should include in tax reform legislation measures that can help grow middle class Americans' retirement savings. Do you...with that statement? (CONT.) % 22% 17% 6% 5 Strongly agree 4 3 Neutral 2 1 Strongly disagree Overall agreement is at 7, a full ten times the frequency of respondents who do not agree (7%). Nearly half (48%) of overall respondents strongly agree with the statement regarding Congress s connecting tax reform to measures growing retirement savings for middle class Americans. Meanwhile, year olds are much less likely to strongly agree with the statement only 26%, compared to 48% of year olds, 51% of year olds, and 56% of those 65+. Millennials are also the most likely to be not sure how they feel about the statement (1).

8 9. On a scale of 1 to 5, please rate your level of agreement with the following statement: Congress should include in tax reform legislation measures that can help grow middle class Americans' retirement savings. Do you...with that statement? (CONT.) % 5 Strongly agree 22% 17% 6% 4 3 Neutral 2 1 Strongly disagree Gender was a factor in this question: greater than 3 in 4 males (77%) strongly agree while fewer than 2 in 3 females (6) feel the same. Republicans edge Democrats in supporting measures that will help middle class Americans increase their retirement savings, with 76% and 66%, respectively agreeing with the statement in question 9.

9 10. Currently there is a bill in Congress that incentivizes private business owners to transfer ownership in their companies to their employees, thus forming an employee-owned stock ownership plan or ESOP - which could increase employees' chances for a more secure retirement. Would you say that you Strongly Support, Somewhat Support Somewhat Oppose, or Strongly Oppose your congressional representative's voting for this legislation? % 12% 22% Strongly Support Somewhat Support Somewhat Oppose Strongly Oppose Across the board support for ESOP inclusion in tax reform legislation (overall at 62%), though a significant number of respondents are not sure (22%). All age groups show overall support: 59%, 65%, 61%, and 63% overall support among year olds, year olds, year olds, and 65+, respectively. There is strong bipartisan support for these incentives as well, with Democrats (62%) and Republicans (63%) nearly tied in their support. Independents are equally supportive (61%).

10 11. If a business owner or owners get a tax advantage that is designed to encourage them to transfer at least a third of their company's ownership to their employees through an ESOP, would that make you... to support this legislation, or would it make no difference? % 38% 15% 8% 17% Much more likely Somewhat more likely Makes no difference Somewhat less likely Much less likely Voters increase support when given the details of particular incentives. Overall increase in support is encouraging at 56%, and with an impressive intensity: 19% of respondents say they are much more likely to support ESOP attachment to tax reform when informed of the tax incentives available to private business owners who transfer part ownership to an ESOP. Near equal increase in overall support among the age groups: 57%, 57%, 55%, and 58% increases for year olds, year olds, year olds, and 65+, respectively. Roughly the same story across the political spectrum: Democrats (58%), Republicans (56%) and Independents (55%) all pick up in overall support at about the same levels.

11 12. If you knew that employees who are part of an employee-owned - or ESOP company - are significantly more likely to feel better about their current financial situation, would that make you... to support this legislation, or would it make no difference? (CONT.) % 1 7% 13% Much more likely Somewhat more likely Makes no difference Somewhat less likely Much less likely Almost a quarter of respondents (2) are much more likely to support the ESOP legislative effort when informed that employees of ESOP companies feel significantly more secure about their financial situations. Overall increase when adding the somewhat more likely supporters is at 63%. Nearly one in five year olds (19%) are much more likely to be behind the legislation when told this fact concerning ESOP employees. Meanwhile, over a quarter (26%) and right at a quarter (25%) of year olds and year olds, respectively, become much more likely in light of this information.

12 12. If you knew that employees who are part of an employee-owned - or ESOP company - are significantly more likely to feel better about their current financial situation, would that make you... to support this legislation, or would it make no difference? (CONT.) % 1 7% 13% Much more likely Somewhat more likely Makes no difference Somewhat less likely Much less likely Again, bipartisan movement to increased support in light of the information related to ESOP employee positive outlooks on their financial security. Two in three Democrats (67%) are overall more likely to support the legislation, while Republicans are right on their tails at 63%. Independents clock in increased overall support at just under 6 in 10 (59%).

13 13. If you knew that employees of ESOPs have much less or no anxiety about saving for retirement, would that make you... to support this legislation, or would it make no difference? % 3 13% 9% 6% 1 Much more likely Somewhat more likely Makes no difference Somewhat less likely Much less likely Similar numbers reported after learning this information. Highlights include more than a quarter of year olds (26%) saying they are much more likely to support the legislation; and nearly identical boosts in support among Democrats, Republicans, and independents, who are 23%, 23%, and 2 much more likely to support it in light of information about ESOP employees feeling less anxiety about retirement.

14 14. Knowing this information, do you think you'd want to work for a company that was employee-owned through an ESOP? 35% After learning about employees feeling more financially secure, respondents by a clear, overall majority (53%) say they want to work for an ESOP company. Among the age groups, only year olds are less than a majority (48%) wanting to work for an ESOP company; they are also the most likely to say no at nearly a quarter (2). No 12% Yes 53% More than half of respondents in both parties and independents say they want to work at ESOP companies. Republicans come in at the highest rate at 56%, followed by Democrats and independents tied at 51%. Higher income earners (greater than $75,000) are most likely (62%)to want to work at ESOP companies, vs. 5 of respondents who earn between $35,00 and $75,000, and 4 of those who earn less than $35,000 per year.

15 15. And knowing this information, would that make you... to want Congress to pass tax legislation that helped encourage your company or others to be employee-owned through an ESOP? (CONT.) % 38% Much more likely Somewhat more likely About the same Just under 7 in 10 respondents (69%) say they re more likely overall to support the reform measure in light of the information conveyed in the poll. Greater than 1/5 th of respondents (22%) become much more likely to support it % 21% Somewhat less likely Much less likely More than a quarter (25.3%) of year olds are much more likely to support the legislation, while they are 6 more likely overall. All age groups hover the 6 more likely overall level.

16 15. And knowing this information, would that make you... to want Congress to pass tax legislation that helped encourage your company or others to be employee-owned through an ESOP? (CONT.) % 38% 11% 21% Much more likely Somewhat more likely About the same Somewhat less likely Much less likely Again, nearly identical increased support for the legislation across the political spectrum, both in terms of intensity and overall increase. Greater than 1 in 5 among each group (Democrats at 23%; Republicans at 22%, and independents at 20.1%) all become much more likely to support this legislation when they learn more about how employees at ESOP companies feel about their futures.

17 16. So once again, there is currently a bill in Congress that incentivizes private business owners to transfer ownership in their companies to their employees, thus forming an employee-owned stock ownership plan or ESOP -- which could increase employees' chances for a more secure retirement. Would you say that you Strongly Support, Somewhat Support, Somewhat Oppose, or Strongly Oppose your congressional representative voting for this legislation? % 41% 7% 21% Strongly Support Somewhat Support Somewhat Oppose Strongly Oppose Nearly 7 in 10 respondents virtually across the board support their members/senators voting for the legislation at issue. Overall, the level of support is at 68%. That level is maintained across age groups with 65+ respondents ticking up to 7. Support for congressional action is nearly identical between the parties:71% of Republicans want members to vote for the legislation vs. 69% of Democrats. Independents are only slightly lower at 6. Clearly both parties will curry favor among their supporters and beyond by voting for this key legislation.