McKnight’s Senior Living December 11, 2023
The median amount of retirement savings varies by race and ethnicity, and employers have the means to bridge those wealth gaps. That’s according to a recent report from the AARP Public Policy Institute.
The study is based on data from a survey of 1,491 US adults aged 18 or more years that was conducted by NORC at the University of Chicago in December 2020. The sample included 1,030 respondents who self-identified as white. The number of Black and Hispanic respondents was somewhat low, so the groups were combined into one sample of 335 households. Of the total number of respondents, 606 participants had household incomes of $45,000 or less.
One solution to shrinking the savings gaps is an automatic...
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