Nova 401(k) Associates
Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
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|Testimony to the ERISA Advisory Council: Gaps in Retirement Savings Based on Race, Ethnicity and Gender (PDF)|
John W. Rogers, Jr., Ariel Investments
July 7, 2021
"While there is an existing gap between Black and white workers who participate in defined benefit plans, the gap in defined contribution plans is much larger, with 49% of white workers nationwide participating in defined contribution plans compared to just 32% of Black workers, according to the Economic Policy Institute. With the power of compound interest, the gap is magnified."
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