#RETIREINEQUALITY
54%of Black Americans don’t have enough savings to retire
There’s a retirement crisis in America, and it’s left hardworking Americans unable to retire securely. As a retirement institution, we’re on a mission to #RetireInequality. So in addition to closing the 30% gender retirement gap, we’re also focused on the 54% of Black Americans who, due to a system of inequities, don’t have enough savings to retire.
We’ve only just begun the fight to #RetireInequality and we’re not done yet. So let’s step further together. Find out where you stand with your retirement savings below.
We’re fighting to retire inequality
for good
TIAA is a mission-based company that believes in the fundamental right of every person to retire with dignity and security. For over 100 years we’ve witnessed setbacks in retirement, which has empowered us to push the boundaries in our industry and wherever we feel change is needed.
#RETIREINEQUALITY
WHERE WE’VE BEEN
We’re not done fighting for equality in retirement. See how we’ve impacted changes in culture over the last year.
Chapter 6
Make YourMoves Go
Further
The steps to securing your retirement can seem daunting, so we’re making moves together.
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Chapter 5
Moms needto retire too
TIAA and Emily Oster partnered with YouGov for the latest data on moms & retirement investing.
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Chapter 4
Continuingthe Fight
Nine soccer ambassadors joined us to help spread the word that on average, women retire with 30% less.
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Chapter 3
THE DRE$$A statement dress that made an even bigger statement about the retirement savings gap.
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Chapter 2
All-StarAwareness
#RetireInequality showed up courtside with a custom sneaker drop.
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In 2018, The Center for Retirement Research at Boston College found that 54% of Black Americans are at risk of falling short in retirement, as calculated by the National Retirement Risk Index which assesses retirement security of today’s working-age households.
In 2021, an Organization for Economic Cooperation and Development study “Towards Improved Retirement Saving Outcomes for Women” (OECD) estimated a 33.7% pension gap for women in the US – that is women have 33.7% less pension income than men.
The Center for American Progress (CAP) 3/30/22 article “The Economic, Educational and Health-Related Costs of Being a Woman” calculated how the gender wage gap could affect women’s retirement savings. Women earn an estimated 83 cents for every dollar earned by men, adding up to $10,435 in median wages a year. By the end of her career, a full-time working woman loses $417,400 in wages. Assuming a 6% annual rate of return, investing 20% of those earnings could yield an additional $323,000 in retirement savings. Investing the total sum could boost retirement savings by $1.6 million.
#RetireInequality brand ambassadors and Essence Festivals Productions, LLC. received compensation from TIAA for making this endorsem*nt and are not affiliated with TIAA.
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This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circ*mstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circ*mstances.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.
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