In recent years, the legs have become wobbly on the “three-legged stool” used to characterize the major sources of retirement income. The three legs of the stool are employer-provided pensions, private savings and investments, and Social Security. Employer-provided pensions, formerly the sturdiest leg of the stool, have increasingly been converted into retirement plans that are less costly to employers and less generous or more costly (or both) to employees. Personal savings and investments continue to fall short of the levels needed to provide full retirement income. The remaining leg of the stool—Social Security—is projected to run out of funds once the Baby Boomers start to retire en masse.

To assess the knowledge, understanding, and expectations of African Americans about Social Security and related retirement and wealth issues, the Joint Center for Political and Economic Studies developed a questionnaire to survey 850 African American adults ages 18 and older. Conducted by Research America between October 28 and November 18, 2005, this telephone survey found that, like other Americans, African Americans have not fully incorporated private savings and investments into their retirement planning. This and other findings from the survey are included in the materials posted on this page. The PowerPoint presentation (“Social Security and Other Retirement Wealth Issues among African Americans: Knowledge, Expectations, and Opinions”) summarizes the survey’s major findings. The fact sheets feature details about specific subpopulations.

Fact Sheet About African American Women

Fact Sheet About 18- to 25- Years-Old African American

Fact Sheet About 51- to 64- Years-Old African American

Fact Sheet About African Americans By Income Group

PowerPoint Presentation on Survey

Methodology