Minorities, especially Latinos, are not saving enough for retirement and are less likely to be covered by an employer-sponsored retirement plan than white workers, according to a study by the National Institute on Retirement Security.
The study also found that minority households have substantially lower retirement savings balances than white households, even after controlling for age and income.
Nari Rhee, manager of research at NIRS and author of "Race and Retirement Insecurity in the United States," said that younger people from all backgrounds tend to have less access to retirement plans in the workplace and that there are some geographic differences, but "even at the same age, we are seeing racial disparities."
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