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Showing Original Post only (View all)White workers have nearly five times as much wealth in retirement accounts as black workers [View all]
http://www.epi.org/publication/white-workers-have-nearly-five-times-as-much-wealth-in-retirement-accounts-as-black-workers/Since the rise of 401(k)s in the early 1980s, the retirement gap between black and white workers has widened. Before 401(k)s took off, black and white workers had similar rates of participation in retirement plans. In 1983, 53 percent of white workers and 52 percent of black workers age 32-61 (the age range during which most workers would be expected to save for retirement before becoming eligible for reduced Social Security benefits) participated in an employer-based plan.
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White workers have nearly five times as much wealth in retirement accounts as black workers [View all]
eridani
Feb 2016
OP
I'd be interested to see the spread in those retirement accounts within the white population.
Erich Bloodaxe BSN
Feb 2016
#1
The switch to 401(k)s hurts everyone, but black people still take the brunt of it n/t
eridani
Feb 2016
#3
Not having a defined benefits pension hurts people who don't make enough to save n/t
eridani
Feb 2016
#6
Many jobs do not offer 401(k)s. It's an incentive offered by employers to attract workers.
Nuclear Unicorn
Feb 2016
#10
Okay, but that's not an unfairness issue. That's employers not being able to offer a benefit.
Nuclear Unicorn
Feb 2016
#15
Not to draw too fine a point but 401(k) accounts are investments, making employees shareholders.
Nuclear Unicorn
Feb 2016
#25
And defined pension plans are massive collective investments making the Plan giant shareholders
Bluenorthwest
Feb 2016
#32
There's over $18 trillion in retirement accounts, only $5 trillion of which are in IRAs
Nuclear Unicorn
Feb 2016
#37
You mean the people who have less than $5000 in savings will have hurt feefees?
eridani
Feb 2016
#38
What do you propose should happen to the $15 trillion in invested retirement accounts?
Nuclear Unicorn
Feb 2016
#39
Again, it's not the 1% who are invested in 401(k)s. They don't need them.
Nuclear Unicorn
Feb 2016
#46
I didn't say the top 10% is middle class; I said the middle class are the ones invested in 401(k)s.
Nuclear Unicorn
Feb 2016
#48
So, you would rip $9 trillion out of the operating finances of companies and
Nuclear Unicorn
Feb 2016
#52
Therein lies the answer to why Bernie's campaign doesn't resonate with blacks
WhaTHellsgoingonhere
Feb 2016
#9
Black voters have specific needs and issues. My policies "raise all boats" doesn't speak to them
WhaTHellsgoingonhere
Feb 2016
#18
gee, thank goodness the aa vote is going to someone who will really help them
restorefreedom
Feb 2016
#21
Where I used to work the match was up to 6% paid every payday. Nice because it compounded
LiberalArkie
Feb 2016
#34
Which is ever so helpful to people who don't have anything left over after expenses
eridani
Feb 2016
#58
It's a pretty miniscule population that literally can't afford to put *anything* in
Recursion
Feb 2016
#53
Many of us who are unemployed now because of "guest worker" contractization of our work force
cascadiance
Feb 2016
#76
God no. They're a horrible idea. Look at how badly they screwed workers over.
Recursion
Feb 2016
#63