Data and Research | April 9th, 2024 Early Withdrawals Found to Exacerbate 401(k) Account Disparities Across Race, Gender In addition to lower contribution rates, Black and Hispanic workers tend to withdraw money more frequently from their 401(k)s, resulting...
Administration | February 21st, 2024 New York Life Forges Partnerships With MLB, US Soccer New York Life will be the official financial guidance partner of Major League Baseball and expanded its commitment to the...
Data and Research | February 8th, 2024 Retirement Incentives Disproportionately Benefit White, High-Income Workers The average contribution rate of Black and Hispanic workers is roughly 40% lower than that of white workers, according to...
Data and Research | January 29th, 2024 With Fewer Investable Assets, Minorities Fall Behind in Retirement Savings Many Black, Hispanic and Native Americans tend to fall behind due to a lack of financial literacy, mounting debt and...
Benefits | November 15th, 2023 Financial Wellness Programs Necessary, but Not Sufficient to Eliminate Racial Wealth Gap While there is no silver bullet to end racial wealth disparity, employers can use financial wellness programs to narrow the...
Administration | October 20th, 2023 Fed’s Bostic Addresses Wealth Inequality, Inflation at New School Lecture The president and CEO of the Fed’s Atlanta branch said monetary policy is limited in its ability to reduce wealth...
Benefits | September 1st, 2023 Customized Benefits, Financial Literacy Are Key to Closing the Racial Retirement Savings Gap It is in plan sponsors’ best interest to improve the financial health of workers and address disparities, researchers say.
Data and Research | August 2nd, 2023 Retirement Savings Gap Widens Further Between High, Low-Income Employees High-income households increasingly hold larger retirement account balances than lower income households and are more likely to reap tax perks...
Deals and People | July 19th, 2023 Financial Finesse Invests in OfColor to Empower Employees of Color The financial wellness platforms aim to address the ‘soaring rates of financial stress among employees of color’ with this partnership.
Benefits | July 3rd, 2023 Equity in Plan Design Starts With Understanding Demographics, Expanding Eligibility To provide broader and more equitable access to retirement savings for all participants, plan sponsors should consider auto features, new...
Data and Research | June 7th, 2023 Retirement Racial Wealth Gap Disproportionately Impacts Black, Hispanic Americans Debt and lack of access to a pension plan can make it especially difficult for Black and Hispanic Americans to...