2012 Retirement Confidence Survey of the State and Local Government Workforce


Summary:

This survey by the Center and the TIAA-CREF Institute finds that only 19 percent of full-time public sector workers are very confident in their retirement income prospects, with many expressing concern about the impact of rising health care costs on current savings. (7/12)

Author(s):
Center for State and Local Government Excellence and the TIAA-CREF Institute
Publication date:
7/26/12
Filed under:
Research Studies
Key findings:
  • Only 16 percent of teachers and 25 percent of police and firefighters are very confident they are saving the right amount for retirement.
  • A full 57 percent of public sector workers expect to work longer than they would like
  • 72 percent expect to work for pay after retiring.
  • Only 22 percent are very confident that they will have enough money to take care of medical expenses during retirement.
  • Two-thirds are not confident that Medicare will continue to provide benefits of equal value to those provided today.
Download publication:
SLGE_TIAA-CREF_Retirement_Confidence_Survey_2012_13-016 SLGE_TIAA-CREF_Retirement_Confidence_Fact_Sheet_13-016 Webinar - 2012 Retirement Confidence

This report surveyed more than 1000 state and local government employees across the nation, including public educators, police and firefighters.

In particular, the survey indicates the rising cost of health care is a factor in the tepid expression of overall retirement confidence.