automatic Individual Retirement Accounts
Coverage of automatic Individual Retirement Accounts in the Nexus archive.
- Racial wealth gap widens as many workers of color lack retirement savings
The racial wealth gap widened between 2019 and 2022, with the median wealth of white families exceeding Black and Hispanic families by $240,000 and $223,000 respectively. States like Minnesota, Hawaii, and Washington are launching automatic retirement savings programs to address disparities, as over 50 million Americans lack employer-sponsored retirement plans.
- Racial wealth gap widens as many workers of color lack retirement savings
The racial wealth gap between white, Black, and Hispanic families widened by $50,000 between 2019 and 2022, driven by disparities in retirement savings. States like Minnesota, Hawaii, and Washington are launching automatic IRA programs to help low-income workers, particularly people of color, build retirement savings.