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Today's Date: April 20, 2024

Divert Announces Purchase of New Site in Lexington, North Carolina for Future Integrated Diversion & Energy Facility • Kellanova and Shaw's join No Kid Hungry to help end summer hunger for kids and families in Maine • Boys & Girls Clubs of the Valley and Ross Stores Celebrated 10-Year Anniversary of "Help Local Kids Thrive" In-Store Fundrai • El Car Wash Partners With “CARD” to Support Neurodiversity in the Workplace • Island Fin Poké Co. Celebrates Earth Day by Sharing Its Sustainable Efforts Toward a Greener Earth • T2EARTH Celebrates Earth Day by Leading the Wood Products Industry towards a Sustainable Built Environment • T2EARTH Launches Official YouTube Channel – T2EARTH Talks • University of Phoenix College of Nursing Faculty Leadership Selected for Prestigious Fellows of the American Association of Nurs • USAA to Gift Vehicles to Military and Their Families in 2024 • Engel & Völkers Dallas Fort Worth Presents $20,824 to Special Olympics • LS Cable & System Welcomes $99 Million Investment Tax Credit Under Section 48C of the Inflation Reduction Act • Coming into Force of Algonquins of Pikwakanagan First Nation's Child and Family Services Law, Nigig Nibi Ki-win • University of Phoenix College of Doctoral Studies Releases White Paper on How Organizations Can Improve Workplace Wellness Throu • Eaton to announce first quarter 2024 earnings on April 30, 2024 • Statement by the Prime Minister on Ridván • Prime Minister announces appointment of the next Commissioner of the Northwest Territories • Clarification of Details Regarding Oceansix's Engagement with RB Milestone Group LLC • Strengthening Canadian research and innovation • ITC Limited - Hip Hop Hacked! Savlon Swasth India Mission's #HandwashLegends made Handwashing cool for India's Youth • Statement from the Minister of Indigenous Services on the preliminary findings from the United Nations Special Rapporteur on the

MINORITY SENIORS' PLIGHT

Waltham, MA—Millions of African-American and Latino seniors are living on the edge of

financial collapse, according to a new report, Severe Financial Insecurity among African

American and Latino Seniors. Released today by the Institute on Assets and Social Policy

(IASP) at Brandeis University and the public policy organization, Demos, the report finds that

African American and Latino seniors face widespread financial insecurity during retirement, a

trend accelerated by the current economic crisis. According to the study, 9 in 10 senior

households of color lack sufficient resources for long-term economic security.

Painting a daunting picture, these findings are a result of analysis utilizing the Senior Financial

Stability Index (SFSI), a tool developed by IASP and Demos to assess the long-term economic

security of seniors. A combination of inadequate pensions and savings, high housing costs,

accelerating health expenses, and other trends that affect seniors, will likely get worse, unless

policies are enacted to address them.

“The current economic crisis will compound economic vulnerabilities that have been building for

years unless policies are developed to reverse these trends,” said Tatjana Meschede, lead author

of the report released today.

Particular vulnerabilities identified in the report include:

• More than three–fourths of senior households of color do not have adequate financial resources

from savings, Social Security, or pension income to cover essential expenses for their expected

life spans.

• Out-of-pocket health care expenses are burdensome for 34 percent of African American and 39

percent of Latino seniors.

• High housing expenses put the budgets of 6 out of 10 senior households of color at risk.

“These data show that millions of African American and Latino seniors are living on the edge of

financial collapse, unable to rely on assets, income, or other pillars of financial stability. Their

circumstances are only made worse by the recent economic downturn, which has been

characterized by dramatic losses in assets and housing values,” said Thomas Shapiro, co-author

of the report and Director of the Institute on Assets and Social Policy.

Policies must not only strengthen the existing safety-nets and promote asset building

opportunities for vulnerable seniors, they also must protect younger families to help them enter

retirement on a stronger economic footing. “Future retirees will be worse off unless we attend to

policies that grow their resources for the future, and combat the rising costs of essential expenses

for seniors,” said Jennifer Wheary, report co-author and a Senior Fellow at Demos.

READ FULL REPORT HERE

For more information and to download the report, visit www.iasp.brandeis.edu or

www.demos.org

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