Why Latinos are losing the retirement race

By Mark Miller, Reuters

(Reuters) – The issue of retirement inequality has caught fire in Washington, D.C., and a report issued this week throws a new log on the flames.

The report zeroes in on the appalling gap in retirement security among racial groups in America. The National Institute on Retirement Security (NIRS), a non-profit research group, found that workers of color – especially Latinos – are far behind whites by every measure. They are significantly less likely than white workers to be covered by a workplace 401(k) or defined-benefit pension. Tossing non-workplace accounts into the picture – individual retirement accounts, Roths, SEP IRAs – the report finds that two-thirds or more of black and Latino households have no retirement savings at all.

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[Photo by Tax Credits]

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