Gaps in Retirement Savings Based on Race, Ethnicity and Gender

This document is the testimony of Norman Stein from the Pension Rights Center. He discusses how ERISA was not designed to address the retirement needs of women, including inadequate protections for spouses' interests in retirement plans during divorce and death. Stein proposes incremental reforms such as mandatory universal pensions, as well as a complete reimagining of the national retirement system to better serve low- and moderate-income individuals.