112: An Equitable Approach To Retirement | Retirement Mini-series pt. 2
The Bid
I Don't Have the Data, but There Are Solutions
Two thirds of all hardship withdrawals come from black employees. The analysis that Holly is talking about is happening in very small pockets, which is exciting. We have been partnering with our friends at Morningstar and DeSia to recruit a coalition of the willing of employers who are stepping up on an anonymous basis.
In part 2 of our 3-part retirement mini-series, Anne Ackerley, Head of BlackRock’s Retirement Group moderates a live panel at the recent BlackRock Retirement Savings Summit, speaking to three leaders who are actively working to bridge the gender and race gap with regard to retirement savings.
Source: Mercer 2022 “Stepping Up For Equity”
Source: Hou, Wenliang, “Social Security is a Great Equalizer.” Center for Retirement Research at Boston College. January 2020;
Source: ICI Global Retirement Report Q2 2022
Source: Federal Reserve Economic Research Report Sep 28th 2020 Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
Source: AARP Payroll Deduction Retirement Programs Build Economic Security, July 2022
Source: Aspen Institute Blog Oct 11th 2022 “We Can Advance Economic Equity Through Automatic Enrollment for Emergency Savings” Tim Shaw, Jason Ewas
Source: Ariel/Hewitt Study 2007 “A Study of 401(k) Savings Disparities Across Racial And Ethnic Groups”
Source: United States Government Accountability Report to The Special Committee on Ageing, March 2019 “Retirement Savings”
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