Employee education and the likelihood of having a retirement savings program

This study develops a framework that can be used to examine the retirement savings decision. Using Retirement Confidence Survey data (N = 751), this analysis determined that respondents with higher education levels, higher income, a smaller household size, and favorable financial attitudes tend to currently have a retirement savings program in place. Those who are exposed to workplace financial education are more likely to have a retirement savings program and having a retirement savings program related positively to retirement confidence.