Retirement Crisis Is Real, Poll Shows, With Millennials Most Concerned

"Americans are divided on so many issues, but not when to comes to their economic insecurity in retirement," said Diane Oakley, NIRS executive director, in releasing the survey results.

"Democrats, Republicans and independents alike are concerned that they won't be able to achieve financial security in retirement and that managing investments in retirement is problematic."

While Oakley said that Americans are "disappointed with national political leadership on retirement policies, they are highly supportive of state efforts to bolster retirement readiness."

The poll found that 74% of Americans would participate in the new state-sponsored retirement plans, she said, "and that portability and monthly income are features that drive their support."

"If the new Congress is serious about addressing Americans' retirement anxiety, a bold first step would be strengthen Social Security and make it easier for companies to offer pensions," Oakley stated. "A majority of Americans agree that government needs to increase Social Security contributions from both employers and workers, and 76% say that the disappearance of pensions is killing the American dream."

As to millennials, they are also the generation most likely (77%) to believe they will have to work past normal retirement age to have a secure retirement.

"More than half of millennials are willing to save 5% or more to help ensure a financially secure retirement, which is more than double the response for that level of savings from boomers and Gen X," the survey found.