According to a recent study, seven in 10 Latino adults have saved less than ,000.00 toward retirement. The study conducted for the Americans for Secure Retirement and the Latino Coalition, a non-profit policy group, revealed these key findings: 1. The vast majority of Hispanic adults have less than ,000 saved for retirement outside of Social Security. 70.9% of Hispanic adults have less than ,000 saved for retirement outside of Social Security. The percentage of those who have less than ,000 saved is very high across all age groups. 69.4% of those over age 40 have less than ,000 saved and that number goes up to 72.5% for those over 55 years of age. 2. A widespread lack of access to work-place sponsored retirement benefits, such as 401(k) plans, exists among Latino adults. 60% of Hispanic adults are not offered 401(k) plans by their employer, indicating it is likely that few have access to any type of work place sponsored retirement benefits. 3. Hispanic adults support Congress taking steps to make it easier for individuals to save for retirement on their own. Specifically, they strongly support proposals that would provide a tax exclusion for the income from lifetime annuities. 72% of Hispanic adults support a proposal that would promote lifelong income. 4. 64% of registered Hispanic voters said Social Security and pensions would not provide enough income for retirement. (source: Americans for Secure Retirement)

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