General Discussion
In reply to the discussion: White workers have nearly five times as much wealth in retirement accounts as black workers [View all]One_Life_To_Give
(6,036 posts)Comparing Participation Rates in 83 to current total assets doesn't add up well. The value of defined benefit plans is not equivalent across all workers.
IIRC White workers of equivalent income levels have significantly more accumulated wealth than African Americans. Something researches have speculated on reasons why. )(Poorer relatives) But I don't recall a specific report detailing the contributing reasons. Add to that the overall disparity in average income between AA and White, it is hardly surprising that an individually contributed retirement account would reflect this as well. You could force people to make defined contributions. But that is really an assumption on our part that the choices AA's make in spending their money on other people/things is less valuable than investing in their retirement.