Sad But Predictable:
Blacks and Hispanics Lag in 401(k) Use

Ariel Investments (as reported in Investment News) came out with a predictable, albeit unwelcome, study of minority participation in 401(k) plans.  The major findings are:

• Blacks (66%) and Hispanics (65%) are less likey than Whites (77%) to participate in their workplace retirement plan if they are eligible
• Blacks defer 6.3% of salary, Hispanics 6%.  But whites defer 7.9% of salary
• Median-income whites have 401(k) nest eggs of about $36,000.  Blacks and Hispanics of the same income have nest eggs of only $22,000
• 20% of whites have borrowed from their 401(k).  But 40% of blacks and 33% of Hispanics have

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