Retirement Wealth by Race and Ethnicity: Differences, Trends and Contributing Factors

April 2024

Authors

Christian E. Weller, PhD

Dania V. Francis, PhD

Michele E. Tolson, MS

Description

Retirement savings are unequally distributed by race and ethnicity. Black/African American, Hispanic/Latino, and some Asian American households are less likely than white households to be able to cover all of their basic living expenses during retirement, on average. This report includes a thorough review of the literature on the extent of racial disparities in retirement savings and possible causes for and correlates of these disparities, followed by detailed documentation of current differences using the most recent U.S. data.

Report

Retirement Wealth by Race and Ethnicity: Differences, Trends and Contributing Factors

Podcast

Retirement Wealth by Race and Ethnicity

Acknowledgments

The researchers’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the volunteer Project Oversight Group and others for their diligent oversight, guidance, and arm’s-length review of this study prior to publication.

Project Oversight Group members:
Bryan Anderson, FSA
Eric Atwater, FSA, EA, FCA, MAAA
Kaitlin Creighton, FSA, CERA, MAAA
Herschel Day, FSA, MAAA
Kelly Edmiston, PhD
Olivia Gillis
Andrew Hiles, FSA, MAAA
Destiny Lara, FSA
Eileen Luxton, FSA, FCIA
Andrew Melnyk, PhD
Shawn Stender, FSA, MAAA
Lisa Ullman, FSA, FCA, MAAA

At the Society of Actuaries Research Institute:
Lisa Schilling, FSA, EA, FCA, MAAA, Director of Practice Research

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