AARP Colorado survey shows concern for retirement savings

April 05-- Apr. 5--The most interesting detail of a new survey from AARP Colorado is that as many as 9 percent of Colorado voters don't think it's important to save for retirement.

The finding -- actually, that 91 percent do think it's important -- was released Wednesday to back up the senior-advocacy group's support for state legislation aimed at creating an option for those who don't have savings plans through their jobs.

Senate Bill 173 would create a state board appointed by the governor to study a public-private means of helping people set retirement income aside while they're working.

The bill is waiting to be heard by the Senate Appropriations Committee after passing the Finance Committee on a party-line vote on March 14.

Those without retirement savings could have to depend heavily on taxpayers later on, advocates for the bill say.

The left-leaning Bell Policy Center in Denver estimates that for every dollar workers invest in the program it would yield a net savings of $155 later on, citing studies in other states.

"With a payoff of at least $155 for every $1 invested, the studies called for in SB19-173 are a great return on our investment, one we can make now to address the looming crisis we all agree is on the horizon," the Bell Policy Center said in a position paper.

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