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The Color of Wealth: Obstacles to
Retirement for People of Color
Dr. Maya Rockeymoore
June 2012
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2
http://www.pewsocialtrends.org/files/2011/07/SDT-Wealth-Report_7-26-11_FINAL.pdf
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2
http://www.pewsocialtrends.org/files/2011/07/SDT-Wealth-Report_7-26-11_FINAL.pdf
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Women, Race/Ethnicity and the Wealth Gap
Source: Chang, M. Lifting as We Climb: Women of Color, Wealth
and Americas Future. Oakland: Insight
Center, 2010.
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Private Pensions:More Exposure to Market Risk
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Ariel/Hewitt Study The Ariel/Aon Hewitt study, 401(k) Plans in
Living Color II, examined the
defined contribution (DC) plans of 60 large U.S.
organizations,
representing 2.4 million employees.
Just two-thirds of Hispanics and 68 percent of African
Americans
contributed to a DC plan in 2010, while 79 percent of whites and
80
percent of Asian workers did so. Fully 8.8 percent of
African-Americans took hardship withdrawals in 2010,
compared to 3.2 percent of Hispanics, 1.7 percent of whites and
just 1.2
percent of Asian workers.
Half of all African-Americans and 40 percent of Hispanic
employeescarried a loan balance at the end of 2010, compared to
just 22
percent of Asians and 26 percent of whites. Two-thirds (63
percent) of African-Americans and 57 percent of
Hispanics who left their employer in 2010 cashed out their
balances.In comparison, 39 percent of white employees, and just
over a third(34 percent) of Asian workers did the same.
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Source: Economic Policy
Institutehttp://stateofworkingamerica.org/charts/homeownership-rates-by-race-1975-2009/
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Life Expectancy At Birth By Race and Ethnicity(Source: National
Vital Statistics May 2011 and U.S. Census Projections)
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59
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Principles for Strengthening Social Security
Strengthen and Modernize Social Security
Maintain What Works
Increase Access
Improve Economic Security for Vulnerable Populations
Achieve Intergenerational Equity
Ensure Long Term Solvency and Adequacy
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Making Policy Work for People
1830 11th Street, NW
Suite 1Washington, DC 20001202-265-5111 phone
202-265-5118 fax@PolicySolutions
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