Testimony on Gaps in Retirement Savings Based on Race, Ethnicity, and Gender

This document is about addressing gaps in retirement savings and security experienced by people of color, minorities, and women. It provides recommendations to the Department of Labor's Advisory Council on improving access to workplace savings plans for lower-income and part-time workers, encouraging regular re-enrollment of non-participants and under-savers, providing more educational resources to plan sponsors, simplifying required notices, and creating safe harbor protections for tailored education to at-risk segments of the population. The goal is to make retirement savings more accessible and achievable for Americans of all backgrounds and income levels.