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Retirement plans can advance race and gender equity

retirement racial

Many retirement plan sponsors are on record in support of addressing racial inequity, especially for those with a millennial workforce.

Of the many inequities highlighted through the pandemic and racial reckoning of 2020, none is more pertinent to the retirement industry than the enormous wealth gaps by race, gender and income. After all, wealth creation is the retirement industry’s core business.

Black households had just 13%

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Retirement plans can advance race and gender equity

Many retirement plan sponsors are on record in support of addressing racial inequity, especially for those with a millennial workforce.

Congress must help make emergency savings automatic

People already use retirement savings to manage short-term needs through 401(k) plan loans, hardship withdrawals and by cashing out during job transitions. Any retirement legislation should include provisions for emergency savings.

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