TARGET POPULATIONS OF STATE-LEVEL AUTOMATIC IRA INITIATIVES

This document is about a study that provides an overview of employer-sponsored pension coverage in the 50 states and a detailed analysis of private sector workers targeted by retirement savings initiatives in California and Illinois. The report compares these targeted workers to their counterparts with access to employer-sponsored pensions, finding that the targeted workers tend to be younger, have lower incomes, and are more likely to belong to racial/ethnic minorities. The analysis suggests that while targeted workers may benefit from state initiatives, they also face weaker incentives to save for retirement due to their distance from retirement and higher expected Social Security benefits.