a stylized route sign with arrow and word IRA (Photo: Shutterstock)

Saving for retirement is not only difficult for many Americans, even getting access to an employer-sponsored retirement plan is nearly impossible. Some states are attempting to alleviate the situation by providing access to retirement plans for those whose employers do not sponsor a plan. A paper authored by Dan Doonan and Kelly Kenneally of the National Institute for Retirement Security (NIRS) finds Americans are generally supportive of state-sponsored, or state-facilitated retirement plans, no matter their generation or their political affiliation.

A surprising number of states have taken at least a small step in considering legislation to set up state-faciliated plans — 46 have considered or studied or enacted legislation, the authors say. Within the past few years, California, Illinois, Massachusetts, Oregon, and Washington have all launched programs.

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