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July 13, 2005 at 08:00 PM
U.S. Hispanic households with relatively high annual incomes tend to have low levels of retirement savings.[@@]
Peter Orszag and Eric Rodriguez, retirement savings researchers, have published data supporting that conclusion in a new paper released by the Retirement Security Project, Washington, and National Council of La Raza, Los Angeles.
The researchers analyzed 2001 federal survey data and found that Hispanic households with annual incomes between $50,000 to $75,000 and either 401(k) plan accounts or individual retirement accounts had an average of only $22,831 in retirement plan assets, compared with an average of $58,848 for all households in that income category that had retirement accounts.
For Hispanic households with annual incomes between $75,000 to $100,000, retirement account assets averaged $22,488, compared with an average of $85,526 for all households in that income category.
Even at Hispanic households with annual incomes between $100,000 to $200,000, retirement account assets averaged only $100,183. The average was $164,449 for all households in the income category.
