While it is true that no ethnic group is showing signs of saving enough for retirement, one of the sad truths is that minorities in lower-wage jobs who need the most options for retirement savings have the fewest.

With Hispanics comprising the largest population and employee sector in San Antonio, this is not a good sign for wealth creation and better living standards here.

According to a 2009 report from the Hispanic Institute and Americans for Secure Retirement, only 25.6 percent of Hispanics are covered by employer-sponsored retirement plans, compared to 42.5 percent of whites and 40 percent of African Americans.

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At Fortune 500 companies, 65 percent of Hispanics participate in 401(k) plans, compared to 77 percent for whites. Seventy-two percent of Hispanics have saved less than $25,000, compared to 48 percent of whites, said Wilhelmina Leigh, a senior research associate for the Joint Center for Political and Economic Studies.

Many of the reasons are obvious, such as not making enough earnings to set aside any from each paycheck, Leigh said during a recent presentation to a National Press Foundation program in Washington, D.C.

Less obvious is the tendency for minorities to be uncomfortable with savings and investments, a matter worsened by the 2008-09 financial industry crisis. Minorities are less likely to sign up for paycheck direct deposit, much less retirement plans, Leigh said.

Read more at the San Antonio Express-News.

View / download Dr. Leigh's Powerpoint presentation at scribd.com.