Are Minnesota Workers Ready for Retirement?
Authors: Joelle Saad-Lessler, Teresa Ghilarducci and Kate Bahn
Date: March 2014
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.