automatic Individual Retirement Accounts (IRAs)
Coverage of automatic Individual Retirement Accounts (IRAs) 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 white families holding $240,000 more median wealth than Black families and $223,000 more than Hispanic families. States like Minnesota, Hawaii, and Washington are launching automatic retirement savings programs to address disparities, as retirement savings—not home equity—drive household wealth in the U.S.
- Racial wealth gap widens as many workers of color lack retirement savings
The racial wealth gap in the U.S. widened between 2019 and 2022, with white families holding $240,000 more wealth than Black families and $223,000 more than Hispanic families. Retirement savings disparities drive this gap, prompting states like Minnesota, Hawaii, and Washington to launch automatic IRA programs to help 50 million Americans without employer-sponsored retirement plans.
- Racial wealth gap widens as many workers of color lack retirement savings
The racial wealth gap widened by $50,000 between 2019 and 2022, with white families holding significantly more wealth than Black and Hispanic families due to disparities in retirement savings. States like Minnesota, Hawaii, and Washington are expanding automatic IRA programs to help 50 million Americans without employer-sponsored retirement plans, with over $3 billion saved collectively in existing programs.