Strong support for employer plans amid high personal economic anxiety


Anxiety about the personal economy is high, and one of the long-term answers Americans are looking for is the employer-provided pension plan.

A majority of the more than 2,000 participants surveyed are worried about their current financial situation, according to a survey commissioned by DailyPay and the Funding Our Future Coalition. And it only increases at lower income levels and among young people: 67% of those with an annual household income of less than $ 50,000 and 71% of 18-34 year olds have such concerns.

The researchers also found that the population of those worse off economically than before the start of the pandemic is made up of low-income people. Twice as many people with an annual household income of $ 100,000 or more have saved more now than they have had less since the start of the pandemic, while nearly three times as many people with household incomes households under $ 50,000 have less savings now than they did. not since the start of the pandemic.

Employer-provided pension plans receive the approval of a strong majority of employed Americans (87%). Almost a third said it is fairly important for an employer to offer one; a majority call this very important. Two-thirds of employed Americans said it was somewhat or very likely that they would change employers if their employer did not offer a pension plan, and even more (79%) of those employed with younger children. 18-year-old said it was likely they would.

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