Hispanics’ Retirement Security

The number of older Hispanics in the United States is growing rapidly, and many face significant financial challenges because of employment histories marked by low-earning jobs that do not generally offer retirement benefits. Older Hispanics receive much less income, hold much less wealth, and are much more likely to be impoverished than older non-Hispanic whites. Financial outcomes are significantly worse for older foreign-born Hispanics than for those born in the United States.

Among working-age adults, US-born Hispanic men are somewhat less likely to participate in the labor force than non-Hispanic white men, while foreign-born Hispanics are more likely to participate. Hispanic women, especially those born outside the United States, are less likely to work. Hispanics employed fulltime earn significantly less than their non-Hispanic white counterparts and are less likely to be covered by an employer-sponsored retirement plan.

The Urban Institute