Expected Retirement Income Adequacy of Near‐Retirement Black and Hispanic Households, 1989–2022
研究了1980年代以来美国养老金从固定收益向固定缴款转型对黑人和西班牙裔家庭退休收入的影响，发现1989-2007年这些群体有显著进步，但2007-2022年增长停滞甚至下降，贫困率将上升。
ABSTRACT One of the most dramatic changes in the American retirement income system since 1980 has been the replacement of many traditional defined benefit (DB) pension plans with defined contribution (DC) ones. The main research question is whether this transformation was beneficial to American households, particularly Blacks and Hispanics. Based on the Survey of Consumer Finances (SCF), Black and Hispanic households are found to have made remarkable progress in retirement income and poverty reduction over 1989–2007. Replacement rates rose for Black households but declined for Hispanics. However, over 2007–2022, while whites experienced continued steady growth in median retirement income, there was almost no change for Blacks and Hispanics. Whites also experienced continued steady growth in mean retirement income, while Blacks underwent much slower growth and Hispanics saw an absolute decline. Poverty rates will rise steeply for Blacks but change little for whites and Hispanics. Income replacement rates will rise for all three groups.