WASHINGTON (NNPA) – More than three-fifths of Black working-age households – 62 percent – have no assets in a retirement account, according to a new study by the National Institute of Retirement Security (NIRS),
Working-age households contain residents 25 to 64 years old. Even those Black households with assets trail similarly situated Whites. Among the 38.3 percent of Black households age 55 to 64 who do own accounts, the average savings is $34,365. That's a fraction of the $206,400 saved by their White counterparts.