January 9, 2017

Winter 2017 Data Reporting Results of the Study of State Retirement Savings Options for Private Sector Workers

To address shortfalls in retirement savings, some states are establishing workplace payroll-deduction individual retirement account programs for employees in the private sector. As other states look at programs to build retirement savings, they are also asking how a population better prepared for retirement would affect public safety-net programs, especially Medicaid.

Segal Consulting conducted a study of states and the District of Columbia to estimate the impact of expanded retirement savings by individuals not currently participating in a retirement plan on future Medicaid expenditures. The result of the analysis showed states could realize meaningful savings on Medicaid spending by requiring a retirement savings plan be available for private sector workers.

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