Survey of Kansas Small Business Owners on Retirement Savings

This report presents the findings of a survey conducted among small business owners in Kansas regarding their perspectives on retirement savings. The survey indicates that a significant majority, 86%, believe more should be done to encourage residents to save for retirement. Concerns are raised about employees' financial readiness for retirement, with 51% worried about their ability to cover healthcare and living expenses. The report also highlights that 77% of respondents express concern as taxpayers about the potential reliance of under-savers on public assistance. Furthermore, the survey reveals strong support for a public-private retirement savings option, with 76% in favor of such a program to help small businesses provide retirement savings plans. Despite challenges related to cost and complexity, nearly two-thirds of small business owners express a likelihood of offering access to a state retirement savings option. The report includes demographic data and methodology details for the survey conducted in October 2024.