Education and Policy Can Reduce Inequity in Retirement Savings

The average savings target for retirement in the US is about $1.8 million, but most Americans are falling woefully short. Across the economy, this translates to about a $1.3 trillion retirement shortfall by 2040. But as it turns out, everyone isn’t falling short equally.

In July, the Government Accountability Office issued a report to Congress outlining disparities in retirement account savings. The disparities found fell along racial, income, education, and family size lines.

Unfortunately, when inequities permeate the policy and cultural landscape, it can be easy for individual issues to get lost in the shuffle. Legislation designed to expand ...