Retirement Confidence in the Education Sector: Comparisons by Race
During the economic doldrums that have followed The Great Recession, employees in the education sector (administrators, staff, and teachers or faculty at both the K-12 level and the post-secondary level) are confident about both their retirement savings behavior and their likely retirement outcomes. African American and white American employees in the education sector are more optimistic about their retirement planning and prospects than are U.S. workers overall. Education sector employees—both African Americans (87%) and white Americans (88%)—are more likely than U.S. workers overall (59%) to currently save for retirement. This fact helps justify their greater confidence that they will have enough money to live comfortably throughout retirement. Seven of every ten black American employees and seven of every ten white American employees are confident (‘very’ or ‘somewhat’) of this, while nearly half of all U.S. workers express this level of confidence.