Reducing Retirement Inequality: Building Wealth and Old-Age Resilience

Edited By Olivia S. Mitchell and Nikolai Roussanov

Many older people are poorly prepared to finance their retirement years. This volume explores the determinants and dynamics of inequality in retirement income in the United States, with an emphasis on inequality by race and ethnicity. Although there has been a great deal of public emphasis on inequality at the very top of the wealth distribution, our focus is on inequality for more representative Black, Hispanic, and White households. Contributors assess the roles of housing wealth, pensions, and Social Security in reducing the retirement wealth gap, as well as the inequality-mitigating effects of old-age public and private retirement saving programs.

Publication date: Spring 2025 · Oxford University Press · ISBN 9780198939030

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• Table of Contents
• Chapter 1: Diversity, Inclusion, and Inequality in Retirement Wellbeing: An Overview
  Olivia S. Mitchell and Nikolai Roussanov
• Chapter 2: Retirement Assets and the Wealth Gaps for Black and Hispanic Households
  Gustavo Suarez, Jeffrey Thompson, and Alice Henriques Volz
• Chapter 3: Changes in Racial Gaps in Retirement Security over Time
  Karen Dynan and Douglas Elmendorf
• Chapter 4: Understanding Trends in Hispanic and African American Retirement Preparedness in the US
  Edward N. Wolff
• Chapter 5: Wills, Wealth, and Race
  Jean-Pierre Aubry, Alicia H. Munnell, and Gal Wettstein
• Chapter 6: The Racial Wealth Gap and the Legacy of Racially Restrictive Housing Covenants
  Larry Santucci
• Chapter 7: Racial and Ethnic Differences in Longevity Perceptions and Implications for Financial Decision-Making
  Abigail Hurwitz, Olivia S. Mitchell, and Orly Sade
• Chapter 8: Social Security and the Racial Wealth Gap
  Sylvain Catherine and Natasha Sarin
• Chapter 9: Financial Inclusion and Retirement Preparedness in the United States
  Vicki L. Bogan
  
• Chapter 10: How Racial Differences in Housing Returns Shape Retirement Security
  Amir Kermani and Francis Wong
• Chapter 11: Racial Differences in Debt Delinquencies and Implications for Retirement Preparedness
  Mingli Zhong and Jennifer Andre
  
• Chapter 12: Understanding Financial Vulnerability among Asians, Blacks, and Hispanics in the United States
  Annamaria Lusardi, Olivia S. Mitchell, Alessia Sconti, and Andrea Sticha
  
• Chapter 13: Tax Policy to Reduce Racial Retirement Wealth Inequality
  Carl Davis and Brakeyshia Samms
  
• Chapter 14: Improving the Financial Security of Workers of Color through Employee Financial Wellness Programs
  John J. Kalamarides
  
• Chapter 15: Enhancing Retirement Wealth and Reducing Retiree Inequality: Emergency Savings 460 Accounts and Other Policy Options
  David C. John, J. Mark Iwry, and William G. Gale
  
• Chapter 16: Would Baby Bonds Reduce Racial Retirement Wealth Inequality?
  Naomi Zewde
  
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