Arkansas Save Looks to Help Small Business Owners

1. No way to save on the job. Over half of Arkansas' private-sector workers do not have access to a retirement savings option at work. This leaves them unprepared for the future and at risk for greater reliance on taxpayer-funded public programs.
   
   
2. Promotes individual responsibility. Public-private retirement savings options, like Arkansas Save, help workers take control of their own financial future. Americans are 15 times more likely to save for retirement if they have a savings account at work.
   
   
3. Saves taxpayers money. 30% of Arkansans depend on Social Security as their only source of retirement income. Arkansas Save reduces reliance on taxpayer-funded programs. Arkansas taxpayers could save as much as $2.7 billion on public assistance programs over 20 years. Source: Pew Charitable Trusts Research, 2023
   
   
4. Supports small businesses. Public-private retirement savings accounts help small businesses compete in today's competitive job market. Arkansas Save would help small businesses facilitate an easy retirement savings option for workers at no cost to the employer.
   
   
5. Commonsense solution. Public-private retirement savings options, like Arkansas Save, would provide workers with an easy way to save as much or as little as they want through automatic deductions, which they can take from job to job.
   
   
6. The bottom line. Arkansans can't rely on Social Security alone to afford out-of-control prices of gas, food, and housing in retirement. Arkansas Save will help workers in our state save for retirement without placing a burden on small business owners.

To learn more about the Arkansas Save program, view the full press packet here.