The presidential election put a spotlight on the decline of American manufacturing and the related economic insecurity among white working class males. In recent decades, this demographic group lost millions of unionized factory jobs that were once a major source of both decent pay and retirement benefits.
But they’re not the only ones with reason to be concerned about their economic futures. White working class families, families of color, and female-headed households share common worries about whether they’ll be able to afford to retire and whether their golden years will be tarnished by financial stress. Our country’s real retirement divide is between those at the top of corporate America and nearly all the rest of us.
This second annual IPS “Two Retirements” report provides a detailed analysis of this CEO-worker retirement benefit gap. As our numbers make startlingly clear, big company CEOs are continuing to enjoy colossal nest eggs while many of these leaders are further eroding their own employees’ retirement security.