Comparing retirement savings behavior of HBCU and non-HBCU higher education employees
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Posted By: Reginald Culpepper on March 14, 2024 Multiple studies have assessed financial well-being and retirement savings behavior in higher education, but few have gauged employee outcomes across types of institution. The TIAA Institute produced a document that examines retirement savings and readiness by employees at Historically Black Colleges and Universities (HBCUs) relative to those at non-HBCU peer institutions. Compared to participants at non-HBCU peer institutions, employees at HBCUs contribute significantly fewer dollars to retirement (between 18% to 30% less). Also, HBCU employees are more than twice as likely to have taken a retirement plan loan than peers. While HBCU participants took out smaller loan amounts than their peers, the median loan represented twice as much as a percent of assets. You can read and download the full report on TIAA's web site at https://www.tiaa.org/public/institute/publ... If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Reginald Culpepper
President, Fulfillment and Web Services, HBCUCONNECT Clark Atlanta University class of 1998 Member Since September 2000 |
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