As many as 56 million private sector workers in the U.S. lack access to a retirement savings plan through their jobs. The subsequent lack of retirement savings could cost federal and state governments hundreds of billions of dollars by 2040.

Joining the podcast is John Scott, the director of the Retirement Savings Project at the Pew Charitable Trusts. Scott explained the scope of the retirement savings problem, the difference between public and private employers, and the most promising approaches to help more people save for retirement.

Also on the show are two lawmakers involved in sponsoring legislation for state-facilitated savings plans. Senator Dallas Harris, a Democrat from Nevada, and Representative Michael O'Donnell, a Republican from Missouri, talked about the legislation they've introduced, how they've worked with employers in their states and the key challenges they faced in passing their legislation.

Resources

• Retirement Policy Project, Pew Charitable Trusts