Hispanics Lack Access to Employer-Sponsored Retirement Plans
Style Magazine Newswire | 1/5/2018, 1:29 p.m.
Source: PRNewswire.com
More than 90% of small business workers in the five top Hispanic metro areas of the United States do not have access to employer-sponsored retirement savings accounts, according to the study published by Finhabits (www.finhabits.com): 2017 Latino Small Business Workers Lack Retirement Savings, released today. The study found a significant ethnic gap. In addition, states with the largest concentration of Hispanic residents had the lowest participation in retirement savings. Texas, Arizona, New Mexico and Florida are among the states with the lowest participation rate (under 25 percent) overall. The 2017 Latino Small Business Workers Lack Retirement Savingsstudy takes a comprehensive bottoms up look at employer and employee retirement health in the U.S. small businesses segment, representing 37,563,000 full-time, private sector workers - 1/3 of the U.S. workforce, and 5,486,000 businesses with fewer than 100 employees.
