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Are Minnesota Workers Ready for Retirement

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Abstract

Minnesota workers, like all American workers, need workplace retirement accounts to achieve an adequate retirement income. This report finds that only a bare majority of workers in Minnesota have access to retirement accounts at work, and the share of workers who do have these accounts is falling. Though it is tempting to attribute the lack of retirement readiness for Minnesota workers to a recession, the reason for the lack of pensions is structural - not enough people have retirement coverage at work and, when they do, the amounts saved are often inadequate.

Suggested Citation

  • Teresa Ghilarducci & Joelle Saad-Lessler & Kate Bahn, 2014. "Are Minnesota Workers Ready for Retirement," SCEPA publication series. 2014-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapb:2014-01
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    File URL: https://www.economicpolicyresearch.org/images/docs/research/retirement_security/SCEPA_MN_Report_FINAL.pdf
    Download Restriction: no
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    More about this item

    Keywords

    Retirement; Social Security; Minnesota;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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