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A State-Backed Retirement Plan For Oregon?

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Oregon's state treasurer says a good guideline for retirement savings is to multiply the last year of earnings by eight. 

That's the number that should be in the bank upon retirement. 

But Ted Wheeler's research shows that half of Oregonians have less than $25,000 saved up for retirement. 

Wheelers says the situation could lead to a "generational crisis" of poverty-stricken senior citizens. 

He proposes a state-sponsored retirement plan; we'll explore pros and cons. 
 

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Geoffrey Riley is a graduate of the University of Missouri School of Journalism and has hosted the Jefferson Exchange on JPR since 2009. He's been a broadcaster in the Rogue Valley for more than 35 years, working in both television and radio.