Latinos’ Retirement Insecurity in the United States
This report finds that inequalities in access and eligibility to employer-sponsored retirement plans are contributing to persistent retirement savings gaps for Latinos. As a result, Latinos are falling even further behind in preparing for retirement. Only 31 percent of all working age Latinos participate in workplace retirement plans, resulting in a median retirement account balance equal to $0.
The research finds that:
Access and eligibility to an employer-sponsored retirement remains the largest hurdle to Latino retirement security.
The retirement plan participation rate for Latino workers (30.9%) is about 22 percentage points lower than participation rate of White workers (53%).
When a Latino has access and is eligible to participate in a plan, they show slightly higher take-up rates when compared to others races and ethnicities.
For working Latinos who are saving, their average savings in a retirement account is less than one-third of the average retirement savings of White workers. Overall, less than one percent of Latinos have retirement accounts equal to or greater than their annual income.
Debunking the Job-Hopping Myth: A Data-Driven Look at Tenure and Turnover Among Younger Workers
Contrary to popular belief that Millennials and Generation Z employees are constantly switching jobs, new research from the National Institute on Retirement Security finds that younger workers today show job retention patterns that closely mirror previous generations at the same stage of their careers.
Views of Retirement in America by Political Party Affiliation
Despite deep polarization across the U.S., a research brief from the National Institute on Retirement Security finds common ground when it comes to Americans’ support for Social Security and defined benefit pension plans. At the same time, Views of Retirement in America by Political Party Affiliation finds Americans across party lines are worried about retirement. […]
Retirement Insecurity 2024: Americans’ Views of Retirement
This national opinion research finds 83% of Americans believe all workers should have a pension, 79% say the nation faces a retirement crisis, and they want action now on Social Security.
Closing the Gap: The Role of Public Pensions in Reducing Retirement Inequality
Closing the Gap: The Role of Public Pensions in Reducing Retirement Inequality finds that defined benefit pensions play a critical role in delivering adequate retirement income for older Americans while providing a key buffer against economic hardship for women, Blacks, Latinos, and those without a four-year college degree. The report also finds that the wealth […]
