Hispanic-Americans at Risk  |   Back to Who Is At Risk Main

Hispanic-American workers face a greater risk to their retirement security than workers overall. Several factors explain why:

		Hispanic-Americans have less workplace pension coverage than workers overall.   Only 17 percent of Hispanic-Americans 65 and older reported receiving pension income in 1997, compared to 34 percent of white retirees.         About half of Hispanic-American workers are covered by 401(k) or other defined contribution plans, compared to 73 percent of workers overall.         Only 22 percent have retirement savings plans to which their employers contribute money or stock, compared to half of workers overall.
		Compared to the average worker, Hispanic-Americans rely more on Social Security for retirement income than other sources. In fact, Social Security is the sole source of income for one-third of Hispanic-American retirees, compared to only 16 percent for white retirees. Therefore, any decline in the value of Social Security payments dramatically affects millions of Hispanic-American retirees.

According to EBRI’s 2003 Retirement Confidence Survey, Hispanic-Americans are anxious about being able to maintain a decent standard of living throughout retirement. Forty-five percent of them are not too confident or not at all confident that they’ll have enough money to live comfortably through their retirement years. About the same number have similar concerns about having enough money to take care of basic expenses, and about half have little or no confidence that they’ll be able to avoid outliving their retirement savings.

Americans for Secure Retirement seeks to make it easier for Hispanic-Americans and others without adequate pension coverage to have a comfortable standard of living throughout their retirement.

Learn about others who are at risk.

WOMEN	FARMERS	HISPANIC - AMERICANS	WORKING FAMILIES
The risk of suffering a significant decline in standard of living during retirement is especially acute for women...Learn more	Farmers would benefit significantly from increased access to retirement vehicles that pay a steady stream of income for life...Learn more	Hispanic-American workers face a greater risk to their retirement security than workers overall...Learn more	For the vast majority of working men and women the main sources of guaranteed income are increasingly weak...Learn more