Retirement Security for Latinos: Bolstering Coverage, Savings and Adequacy

Publication Date: July 2005

Publisher: National Council of La Raza

Author(s): Peter R. Orszag; Eric Rodriguez; Peter R. Orszag; Eric Rodriguez

Research Area: Banking and finance

Keywords: Hispanic population; Economic inequality; Income diversity; Pension plan

Type: Report

Coverage: United States United States

Abstract:

This report released by The Retirement Security Project and the National Council of La Raza (NCLR) shows that Hispanics would particularly benefit from improvements to 401(k) plans such as automatic enrollment, expansion of the Saver's Credit, and eliminating retirement plans from eligibility requirements for means-tested programs. This new evidence is important because Latinos, who are far less likely than other workers to participate in an employment-based retirement plan or have any significant private savings earmarked for retirement, are the fastest growing segment of the American population at or near retirement.