Access to Workplace Retirement Plans by Race and Ethnicity

Catherine Harvey, AARP Public Policy Institute

Published April 27, 2016

Workers are 15 times more likely to save for retirement if they have access to a payroll deduction savings plan at work. Yet nearly half of American private-sector employees—roughly 55 million—work for an employer that does not offer a retirement plan. Black, Asian, and Hispanic workers are overrepresented among employees that work for an employer that does not offer a retirement plan.

Main findings:

Hispanic, Black, and Asian workers are less likely than White workers to have an employer-sponsored retirement plan.

Hispanic, Black, and Asian workers make up about 43 percent of those who lack access to an employer-sponsored retirement plan.

Hispanic, Black, and Asian workers strongly support state-facilitated retirement savings plans.

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