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The brief’s key findings are:

• The earnings and wealth gaps between whites and minorities are enormous. The question is how these disparities translate to retirement preparedness.
• In 2016, the share of whites at risk in retirement was 48 percent vs. 54 percent for blacks and 61 percent for Hispanics, smaller than the earnings/wealth disparities.
• The retirement gap is smaller simply because minorities have a lower pre-retirement standard of living to maintain.
• From 2007-2016, retirement risk for all three groups increased, but the gap between whites and blacks narrowed while Hispanics fell further behind because:
  • a sharp decline in earnings among low-income blacks was buffered by Social Security; and
  • Hispanics were hit much harder than either whites or blacks by the bursting of the housing bubble.

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It would be easy to think that the police officer is a figure who has existed since the beginning of civilization. That’s the idea on display in the proclamation from President John F. Kennedy on the dedication of the week of May 15 as “National Police Week,” in which he noted that law-enforcement officers had been protecting Americans since the nation’s birth.

In fact, the U.S. police force is a relatively modern invention, sparked by changing notions of public order, driven in turn by economics and politics, according to Gary Potter, a crime historian at Eastern Kentucky University.

Management consulting firm McKinsey reports that organizations that appear on “best places to work” lists often make the cut because their business strategy is premised on a long-term relationship with their employees. McKinsey credits companies for both the large and small signals sent to employees that an organization cares about its people.

Valued by employers as a workforce management tool to recruit and retain talent, offering defined benefit (DB) pension benefits is one way that employers send a loud signal to employees that they are committed to a long-term relationship. The structure of a pension increases the financial value of a DB pension benefit over an employee’s career. This provides a meaningful incentive for employees to stay in their jobs. Research indicates that employees value pensions as a path economic security in retirement, especially as compared to individual defined contribution (DC) accounts.

Firefighters have been saving the lives of Americans since 1678. Although their techniques have changed since then, firefighters are still saving thousands of lives each year.

This week is National Retirement Security Week! Proclaimed by an official declaration from Congress, each year supporters of 401(k)-style defined contribution plans use this week to promote their products. We’ve decided to take back retirement security from the salesmen of the financial industry and focus on the most reliable source of retirement security: defined benefit pensions. Today’s blog post will discuss the true state of retirement security in the United States. On Wednesday, we’ll highlight how defined contribution plans contribute to the retirement savings crisis. On Friday, we’ll wrap up by focusing on the strengths of defined benefit pensions.

Baby Boomers nearing retirement face a stark reality when it comes to leaving the workforce. Almost 20 million working Americans between ages 55 and 64 have no money in 401(k) retirement accounts and do not have a pension. Will they be able to pay their bills and maintain their standard of living on just Social Security?

These near-retirees face little time to reap the benefit of compound interest to help grow their nest eggs at a time when interest rates are at an all-time low. With these factors working against them, financial advisors often suggest that pre-retirees keep working and avoid drawing on Social Security until their full retirement age or later.

Last year, the full retirement age started to move up, making retiring early more costly. For those born in 1956, the age at which Americans can receive full Social Security benefits is age 66 and four months. This full retirement age will continue to increase until 2022 when it reaches age 67.