U.S. Virgin Island Voters Support a Public–Private Retirement Savings Option

U.S. Virgin Island voters support a public–private retirement savings option to enable small business owners to offer their employees a way to save for retirement, according to a recent AARP survey. Nearly all agree that state lawmakers should support legislation that enables workers to save for retirement, with a majority saying that they strong agree.

Key Findings

• Most (88%) working, registered voters in the U.S. Virgin Islands support a public–private managed state retirement savings program, with two-thirds (67%) showing strong support.  
  
  
• Nearly all (94%) voters agree that state lawmakers should support legislation that makes it easier for workers to save for retirement, with the majority of them saying they strongly agree.
  
  
• One in five (20%) Virgin Island voters between the ages of 25 and 64 say their employer does not offer a retirement savings option. The majority of these voters (79%) say they would be very likely to take advantage of a public–private retirement saving option if one is offered. 

Methodology

This survey of 607 registered voters in the U.S. Virgin Islands was commissioned by AARP in the Virgin Islands to gauge their opinions on saving for retirement and their support for a public–private retirement savings program for small business owners and their employees.  The survey was fielded from March through May 2022.

AARP is supporting states in their efforts to create and implement a state retirement savings option that would enable small business owners and their employees to better prepare for retirement.  These public–private managed state programs would be easy for employers to set up with low costs and low risks to them, their employees, and the state.

For more information, please contact Jennifer Sauer at jsauer@aarp.org. For media inquiries, please contact External Relations at media@aarp.org.