Report of Senate Joint Memorial 12 Retirement Income Security Task Force

Underinvestment in retirement savings nationwide creates the potential for fiscal challenges as states must face the prospect of relying on public funds to fulfill the needs of aging populations (Trostel, 2017). States with a high percentage of low-income workers are especially vulnerable because those individuals are less likely to have adequate retirement savings. The data suggest that New Mexico has a relatively lower percentage of private-sector workers who have a retirement plan available to them through their employers compared to the rest of the nation.