Press release: Report highlights retirement (in)security for blacks, Latinos

For Immediate Release Contact: James Geluso

Feb. 21, 2012                                                                                      (661) 321-4163

Black History Month:

Report highlights retirement (in)security for black, Latino workers

SALINAS, Calif. – February is Black History Month and a new report from the University of California Berkeley’s Labor Center reveals  minority workers are more likely to live in poverty as retirees. SEIU Local 521 members are urging community leaders to address the need for retirement security for all workers.

The report “Black and Latino Retirement (In)Security” finds that black and Latino seniors face even tougher times in retirement than American seniors as a whole.

The report’s main findings include:

  • Poverty rates are twice as high among black and Latino seniors compared to the U.S. population as a whole
  • Less than half of black workers are covered by an employer sponsored retirement plan, a critical resource in ensuring adequate retirement income
  • Among retirees age 60 and older, minorities are disproportionately likely to be low income

“I’m getting ready to retire, and I know I’m fortunate to have the retirement that I’ve worked for. I know my friends and neighbors have put in a lifetime of hard work and they deserve a secure retirement too,” said Dexter Carraway, a social service program supervisor for Fresno County

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The Service Employees International Union is an organization of 2.1 million members united by the belief in the dignity and worth of workers and the services they provide.  SEIU is dedicated to improving the lives of workers and their families and creating a more just and humane society. For more information, visit www.seiu521.org

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