City Club of Boise Virtual Conversation: Is retirement only a dream for many in Idaho’s workforce

The retirement savings landscape is changing. Can Idaho help make it easier?

Just 36 percent of working Americans think their retirement savings are on track, according to the Federal Reserve. A full quarter of American workers haven't saved a dime. In Idaho, the statistics are just as grim. A state Office of Performance Evaluation report found this year that just four in ten Idaho private-sector workers have a retirement plan at work — and the smaller the business, the less likely it is to provide one. Yet studies show that this kind of set-it-and-forget-it payroll deduction has a significant impact on a person's retirement savings.

"The lack of retirement savings means that people have a lower quality of life and must rely on safety net programs to a greater extent than they would otherwise," the Idaho report stated. "As such, many policymakers see retirement savings as a state financial issue…