Hispanic workers are the least likely among older workers to participate in a retirement plan: Share of workers age 55 and older who have access to and participate in a retirement plan at a current job, by race and ethnicity, 2019

Yes No
Access 63.1% 36.9%
Participation 54.4% 45.6%
Access 63.8% 36.2%
Participation 50.3% 49.7%
Access 40.1% 59.9%
Participation 30.3% 69.7%

Notes: Retirement plans include traditional defined benefit pension plans and retirement savings accounts such as 401(k)s. Hispanic refers to Hispanic of any race, while white and Black refer to non-Hispanic whites and non-Hispanic Blacks.

Retirement plans include traditional defined benefit pension plans and retirement savings accounts such as 401(k)s. Hispanic refers to Hispanics of any race, while white and Black refer to non-Hispanic whites and non-Hispanic Blacks. The sample includes survey respondents and spouses or domestic partners who are employees or self-employed workers (which would include small business owners). Non-Hispanic Asian Americans and Pacific Islanders and those not included in the other racial groups are not shown in the graph due to small sample sizes. Participants in a plan are workers who answered “yes” to a question about whether they were included in any “pension, retirement, or tax-deferred savings plans” connected with their job (not including IRA or Keogh plans) and workers whose spouse or partner answered “yes” for them. Workers with access to a plan are workers who answered “yes” to questions about whether their employer offered any such plans and whether they were eligible to be included in any of those plans and workers whose spouse or partner answered “yes” for them.

Source: Economic Policy Institute (EPI) and Schwartz Center for Economic Policy Analysis (SCEPA) analysis of Survey of Consumer Finances 2019 microdata (Federal Reserve 2022a).

View the underlying data on epi.org.