TRIVIAL PURSUITS: How did voters vote before our modern voting methods?

How did voting methods evolve from colonial times until now?

In colonial times, in many places, election days were social occasions accompanied by much eating and drinking. When it came time to vote, those qualified— a free, adult, male resident of his county, a member of the predominant religious group, and one who owned land worth a certain amount of money—would simply gather together and signify their choices by voice or by standing up. As time went on, this form of public voting was gradually abandoned in favor of secret paper ballots. For a while, however, some colonies required published lists showing how each voter cast his ballot.

Get more!  Sign up for PLANSPONSOR newsletters.

For most of the 19th century, political parties controlled the printing and distribution of paper ballots, also known as party tickets. The paper ballots would be stuffed in slotted boxes, then counted by voting officials.

In the late 1800s and early 1900s, the electorate of the United States roughly doubled. Immigrants flocked to the nation’s cities, and women in the western territories received the right to vote. Election officials worried that such large numbers of votes would make voting fraud easier. They looked for a solution in the introduction of the Australian or blanket ballot and in new ballot counting machines. The Acme, an improvement upon the open-slot box, had a tabulator activated by a lever mechanism that releases the ballot into the box. The Acme was manufactured in Bridgewater, Connecticut, about 1880.

In the late 19th century, gear-and-lever voting machines were introduced, following contemporary trends in ballot design, notably the tabular layout of the blanket ballot, and private curtained booths were provided for voters.

From the late 1950s through the early 1970s, elections specialists looked to vote recording systems that could tap the processing power of computers, and punch cards were introduced. Later on, the punch cards had to be put into a card count reader.

Since the Help America Vote Act of 2002, more places are adopting the “optical scan” or “direct recording electronic” (DRE) touch screen computer systems for voting.

Inadequate Savings Lowers Retirement Confidence of Boomers

In addition, a survey found, a lack of savings is resulting in delayed retirement for many Baby Boomers.

Only 24% of Baby Boomers are confident they will have enough savings to last in retirement, according to a research report from the Insured Retirement Institute (IRI) titled “Boomer Expectations for Retirement 2016.” This is the lowest confidence level since IRI began its research on the topic in 2011. Back then, 37% of Boomers had the same level of confidence.

Inadequate savings is one reason for the lack of confidence, as nearly half of the Boomers with savings report that they have saved less than $100,000. This translates to less than $7,000 a year in retirement income. Overall, one in five Boomers is concerned that they won’t have enough savings to cover basic living expenses. The study found that Boomers lacking confidence in their retirement security have some common regrets, with 68% wishing they had saved more and 67% wishing they started saving earlier.

IRI found that only 22% of Boomers are confident about their preparations for retirement, 27% are confident their savings will be sufficient to cover health care costs in retirement, and only 16% are confident they can cover the cost of long-term care.

A lack of savings is resulting in delayed retirement for many workers. During the past year, 30% of Boomers postponed their plans to retire, and 59% now plan to retire at age 65 or later. Twenty-six percent now say they plan to retire at age 70 or later, compared with 17% in 2011.

When asked how they will pay for living expenses if financial resources are depleted, 71% of Boomers say they will try to rely solely on Social Security, and 54% say they will try to return to work. Nearly six in 10 Boomers expect Social Security to be a major source of income in retirement, up from 43% in 2014.

NEXT: Holistic planning needed

The study underscored the importance of establishing a holistic retirement savings plan that includes working with a financial professional. More than eight in 10 Boomers who work with a financial professional say they are better prepared for retirement as a result.

Sixty-eight percent of Boomers who own annuities and 78% of those who work with financial professionals have at least $100,000 saved for retirement, compared with only 58% of all Boomers.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

More than six in 10 Boomers say they would prefer to meet with a financial professional in person, and an equal amount say they are unlikely to use an automated, online solution.

“The road to a confident financial future begins with developing a holistic retirement plan,” says Cathy Weatherford, president and CEO of IRI. “Unfortunately, most Boomers are not taking important planning steps. Less than 40% have determined a savings goal, and just over a quarter are seeking help from a financial professional. Time is running out. Unless Boomers begin to focus on their long-term needs now and commit to saving, they will need to work longer and make steep cutbacks to make ends meet in retirement.”

The full report is available here.

«