BANGOR, Maine - A new study suggests that as more people retire, inadequate personal savings means the taxpayers will have to take on more of the burden.
"With an aging Maine workforce moving into retirement increasingly reliant on public assistance, that cost to the state it likewise increasing," says Amy Gallant, advocacy director for AARP Maine, which commissioned the study.
States and the federal governments must address the barriers to saving for retirement, says Gallant, or the burden on taxpayers will continue to grow.